Company: AIRTP
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0000353184-25-000009
Chunk: 33

Company: AIR T INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Item 8
Chunk 33
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rolling interests(54)(870)(863)(1,375)Net (loss) income attributable to Air T, Inc. Stockholders$(1,297)$(2,979)$888 $(5,119)(Loss) income per share:Basic$(0.47)$(1.06)$0.32 $(1.82)Diluted$(0.47)$(1.06)$0.32 $(1.82)Antidilutive shares excluded from computation of (loss) income per share— — — — Weighted Average Shares Outstanding:Basic2,756 2,822 2,755 2,820 Diluted2,756 2,822 2,755 2,820 

12

6.    Intangible Assets and Goodwill

Intangible assets as of December 31, 2024 and March 31, 2024 consisted of the following (in thousands):December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Book ValuePurchased software$584 $(506)$78 Internally developed software3,562(1,003)2,559 In-place lease and other intangibles1,094(432)662 Customer relationships7,741(1,810)5,931 Patents1,112(1,111)1 Other1,522(1,081)441 15,615(5,943)9,672 In-process software312—312 Intangible assets, total$15,927 $(5,943)$9,984 March 31, 2024Gross Carrying AmountAccumulated AmortizationNet Book ValuePurchased software$582 $(452)$130 Internally developed software3,657(790)2,867In-place lease and other intangibles1,094(348)746Customer relationships8,009(1,427)6,582Patents1,112(1,109)3Other1,502(993)50915,956(5,119)10,837In-process software141—141Intangible assets, total$16,097 $(5,119)$10,978 Based on the intangible assets recorded at December 31, 2024 and assuming no subsequent additions to, or impairment of the underlying assets, the remaining estimated annual amortization expense is expected to be as follows:(In thousands)