Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 209

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 7
Chunk 209
---
 segment’s order backlog was $14.3 million compared to $12.6 million at March 31, 2024.

The commercial aircraft, engines and parts segment contributed $118.2 million of revenues in fiscal year ended March 31, 2025 compared to $125.5 million in the prior fiscal year which is a decrease of $7.3 million (6%). The decrease was primarily driven by a lower supply of whole assets available to purchase for tear-down or resale in an increasingly competitive market, further exacerbated by aircraft operators keeping older aircraft in operation for longer than they have in the past.

The digital solutions segment contributed $7.3 million of revenues in the fiscal year ended March 31, 2025 compared to $5.8 million in the prior fiscal year which is an increase of $1.5 million (26%). The increase is primarily due to increased software subscriptions driven by continued acquisition of new and recurring customers.

Following is a table detailing operating income (loss) for the Company's four segments and Corporate and other, net of intercompany during Fiscal 2025 and Fiscal 2024 (in thousands):

Year Ended March 31,Change20252024Overnight Air Cargo$6,251 $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. 

33

Operating income of the commercial aircraft, engines and parts segment was $7.1 million compared to operating income of $4.2 million in