Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 324

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 8
Chunk 324
---
,462 1,710 Corporate and other1,191 1,202 General and administrative57,848 51,114 Depreciation and amortization4,356 2,798 Earnout remeasurement435 — 289,942 285,570 Operating Income1,908 1,264 Non-operating (Expense) Income:Interest expense(8,387)(6,916)Income from equity method investments1,700 1,689 Other(209)8 (6,896)(5,219)Loss before income taxes(4,988)(3,955)Income Tax Expense423 729 Net Loss(5,411)(4,684)Net Income Attributable to Non-controlling Interests(729)(2,135)Net Loss Attributable to Air T, Inc. Stockholders$(6,140)$(6,819)Loss per share (Note 20)Basic$(2.23)$(2.42)Diluted$(2.23)$(2.42)Weighted Average Shares Outstanding:Basic2,750 2,816 Diluted2,750 2,816 

See notes to consolidated financial statements.

46

AIR T, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)Year Ended March 31,20252024Net Loss$(5,411)$(4,684)Other Comprehensive (Loss) Income:Foreign currency translation income (loss)407 (93)Unrealized gain on interest rate swaps— 20 Reclassification of interest rate swaps into earnings(1,351)(823)Redemption of non-controlling interest146 — Other231 — Total Other Comprehensive Loss(567)(896)Total Comprehensive Loss(5,978)(5,580)Comprehensive Income Attributable to Non-controlling Interests(729)(2,135)Comprehensive Loss Attributable to Air T, Inc. Stockholders$(6,707)$(7,715)

See notes to consolidated financial statements.

47

AIR T, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS(In thousands, except per share data)March 31, 2025March 31, 2024ASSETSCurrent Assets:Cash and cash equivalents$5,932 $7,100 Marketable securities422 531 Restricted