Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 233

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 8
Chunk 233
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 12,976 Commitments and contingencies (Note 21)Equity:Air T, Inc. Stockholders' (Deficit) Equity:Preferred stock, $1.00 par value, 2,000,000 shares authorized— — Common stock, $0.25 par value; 4,000,000 shares authorized, 3,030,245 and 3,030,245 shares issued, 2,702,639 and 2,775,163 shares outstanding758 758 Treasury stock, 327,606 shares at $19.55 and 256,850 shares at $19.31(6,404)(4,959)Additional paid-in capital947 859 Retained earnings2,130 8,192 Accumulated other comprehensive loss(647)(80)Total Air T, Inc. Stockholders' (Deficit) Equity(3,216)4,770 Non-controlling Interests1,698 1,050 Total (Deficit) Equity(1,518)5,820 Total Liabilities and (Deficit) Equity$173,778 $177,167 

See notes to consolidated financial statements.

48

AIR T, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWSYear Ended March 31,(In thousands)20252024CASH FLOWS FROM OPERATING ACTIVITIES:Net loss$(5,411)$(4,684)Adjustments to reconcile net loss to net cash provided by operating activities:Depreciation and amortization4,356 2,798 Income from equity method of investments(1,700)(1,689)Inventory write-down1,463 1,195 Other2,369 1,294 Change in operating assets and liabilities:Accounts receivable(1,808)4,047 Inventories20,630 9,103 Accounts payable2,710 4,623 Accrued expenses1,087 2,378 Employee retention credit receivable— 940 Other(200)(2,827)Total adjustments22,419 18,264 Net cash provided by operating activities23,496 17,178 CASH FLOWS FROM INVESTING ACTIVITIES:Investment in unconsolidated entities(7,027)(4,633)Distribution from unconsolidated entities6,030 3,192