Air T, Inc. Reports Earnings Results for the Full Year Ended March 31, 2022
June 28, 2022 at 04:45 pm
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Air T, Inc. reported earnings results for the full year ended March 31, 2022. For the full year, the company reported revenue was USD 177.08 million compared to USD 175.12 million a year ago. Net income was USD 10.93 million compared to net loss of USD 7.28 million a year ago. Basic earnings per share from continuing operations was USD 3.79 compared to basic loss per share from continuing operations of USD 2.53 a year ago. Diluted earnings per share from continuing operations was USD 3.78 compared to diluted loss per share from continuing operations of USD 2.53 a year ago. Basic earnings per share was USD 3.79 compared to basic loss per share of USD 2.53 a year ago. Diluted earnings per share was USD 3.78 compared to diluted loss per share of USD 2.53 a year ago.
Air T, Inc. is a holding company with a portfolio of operating businesses and financial assets. The Company has four segments: Overnight air cargo, Ground equipment sales, Commercial jet engines and parts, and Corporate and other. Overnight air cargo segment operates in the air express delivery services industry. Ground equipment sales segment manufactures and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, military and industrial customers. Commercial jet engines and parts segment manages and leases aviation assets, supplies surplus and aftermarket commercial jet engine components, provides commercial aircraft disassembly/part-out services, commercial aircraft parts sales, and procurement services and overhaul and repair services to airlines. Corporate and other segment acts as the capital allocator and resources for other consolidated businesses. Further, the segment is also comprised of insignificant businesses.