Company: AIRTP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0000353184-25-000073
Chunk: 25

Company: AIR T INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 25
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14, 2014, the Company announced that its Board of Directors had authorized a program to repurchase up to 750,000 (retrospectively adjusted to 1,125,000 after the stock split on June 10, 2019) shares of the Company’s common stock from time to time on the open market or in privately negotiated transactions, in compliance with SEC Rule 10b-18, over an indefinite period. No shares were repurchased by the Company during the three months ended June 30, 2025.

15.    Geographical Information

Total tangible long-lived assets, which include property and equipment as well as assets on lease, net of accumulated depreciation, located in the United States, the Company's country of domicile, and held outside the United States, are summarized in the following table as of June 30, 2025 and March 31, 2025 (in thousands):June 30, 2025March 31, 2025United States$20,025 $20,422 Foreign14,164 14,525 Total tangible long-lived assets, net$34,189 $34,947 The net book value of tangible long-lived assets located within each individual foreign country at June 30, 2025 and March 31, 2025 is listed below (in thousands):June 30, 2025March 31, 2025Thailand$221 $— Bulgaria13,853 14,435 Other90 90 Total tangible long-lived assets, net$14,164 $14,525 Total revenue, in and outside the United States, is summarized in the following table for the three months ended June 30, 2025 and June 30, 2024 (in thousands):

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Three Months Ended June 30,20252024Operating Revenues:Overnight Air CargoUnited States$29,246 $29,543 Foreign1,343 840 Total Overnight Air Cargo30,589 30,383 Commercial Aircraft, Engines and PartsUnited States13,502 18,460 Foreign8,458 7,790 Total Commercial Aircraft, Engines and Parts21,960 26,250 Ground Support EquipmentUnited States14,693 5,798 Foreign377 1,556 Total Ground Support Equipment15,070 7,354 Digital SolutionsUnited States490 395 Foreign1,606 1,