Company: AIRTP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0000353184-25-000126
Chunk: 54

Company: AIR T INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 54
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31,076 21,463 9,637 2,209 64,385 Reconciliation of revenueOther revenue11,544 Elimination of intersegment revenue2(1,779)Total consolidated revenue$64,150 Cost of sales:Cost of sales from external sources24,922 14,427 6,539 762 Intersegment operating expense1,152 517 — — 26,074 14,944 6,539 762 Less:3General and administrative3,250 6,742 1,445 1,512 12,949 Gain from sale of aircraft— (7,034)— — (7,034)Other segment items4137 34 34 213 418 Segment profit (loss)1,615 6,777 1,619 (278)9,733 Reconciliation of profit (loss)Other revenue11,544 Other cost of sales1(364)Other expenses1(1,276)Interest expense(2,252)Income from equity method investments4,179 Other non-operating expense(201)Other corporate expenses5(4,271)Elimination of intersegment profits142 Income before income taxes$7,234 

1 Revenue, cost of sales, and expenses from segments below the quantitative thresholds or that do not constitute a business segment are attributable to an investment advisory business, a laser printer manufacturer, and a commercial property owned by the Company.

2 Elimination of intersegment revenue includes eliminations related to Other revenue in the tables above totaling $44.0 thousand for the three months ended September 30, 2025. After eliminations, Other revenue from third parties is $1.5 million for the three months ended September 30, 2025.

3 The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.

4 Other segment items consist of depreciation and amortization and remeasurement of the earnout liability.

5 Other corporate expenses consist of unallocated expenses that are related to the activities of Corporate and other in support of the overall business. Unallocated expenses include, but are not limited to: shared services that are not allocated, costs associated with the corporate headquarters and, expenses related to identifying and pursuing new corporate business initiatives.

31

Three Months Ended September 30, 2024Overnight Air CargoCommercial Aircraft,