Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 54

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 1A
Chunk 54
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,251 $6,765 $(514)Commercial Aircraft, Engines and Parts7,116 4,169 2,947 Ground Support Equipment(1,210)(1,553)343 Digital Solutions(1,064)(661)(403)Segments total11,093 8,720 2,373 Corporate and Other(9,185)(7,456)(1,729)Total$1,908 $1,264 $644 

Consolidated operating income for the fiscal year ended March 31, 2025 was $1.9 million compared to consolidated operating

income of $1.3 million in the prior fiscal year.

Operating income for the overnight air cargo segment decreased by $0.5 million in the current fiscal year, due primarily to increased loss provisioning for bad debt and additional taxes related to conducting business in Puerto Rico.

Operating loss for the ground support equipment segment was $1.2 million compared to operating loss of $1.6 million in the prior fiscal year. The decrease in operating loss was primarily attributable to reduced headcount, partially offset by increased warranty expense in the current year. 

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Operating income of the commercial aircraft, engines and parts segment was $7.1 million compared to operating income of $4.2 million in the prior year. The increase was primarily attributable to increased sales of component packages with a higher gross profit, which offset the decrease in revenue noted above.

Operating loss for the digital solutions segment increased by $0.4 million year over year, attributable to increased personnel needed to continue to scale operations.

The table below provides Adjusted EBITDA for the Company's four segments and Corporate and other for the fiscal year ended March 31, 2025 and 2024 (in thousands):

Twelve Months EndedChangeMarch 31, 2025March 31, 2024Overnight Air Cargo$6,808 $7,144 (336)Ground Support Equipment(773)(949)176 Commercial Aircraft, Engines and Parts9,832 6,119 3,713 Digital Solutions(272)149 (421)Segments total15,595 12,463 3,132 Corporate and Other(8,232)(6,273)(1,959)Adjusted EBITDA$7,363 $6,190 1,173 

Consolidated Adjusted EBITDA for the fiscal year ended March 31, 2025 was $7.4