Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 75

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 1A
Chunk 75
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)Net Income Attributable to Non-controlling Interests(729)(2,135)Net Loss Attributable to Air T, Inc. Stockholders$(6,140)$(6,819)Loss per share (Note 20)Basic$(2.23)$(2.42)Diluted$(2.23)$(2.42)Weighted Average Shares Outstanding:Basic2,750 2,816 Diluted2,750 2,816 

See notes to consolidated financial statements.

46

AIR T, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)Year Ended March 31,20252024Net Loss$(5,411)$(4,684)Other Comprehensive (Loss) Income:Foreign currency translation income (loss)407 (93)Unrealized gain on interest rate swaps— 20 Reclassification of interest rate swaps into earnings(1,351)(823)Redemption of non-controlling interest146 — Other231 — Total Other Comprehensive Loss(567)(896)Total Comprehensive Loss(5,978)(5,580)Comprehensive Income Attributable to Non-controlling Interests(729)(2,135)Comprehensive Loss Attributable to Air T, Inc. Stockholders$(6,707)$(7,715)

See notes to consolidated financial statements.

47

AIR T, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS(In thousands, except per share data)March 31, 2025March 31, 2024ASSETSCurrent Assets:Cash and cash equivalents$5,932 $7,100 Marketable securities422 531 Restricted cash575 743 Restricted investments683 1,392 Accounts receivable, net of allowance for doubtful accounts of $1,338 and $1,42023,917 22,911 Income tax receivable681 561 Inventories, net38,516 60,720 Prepaid expenses3,103 2,351 Due from Crestone Asset Management, LLC for expense reimbursements180 3,093 Other current assets4,498 3,475 Total Current Assets78,507 102,877 Notes Receivable - Lendway3,350 — Notes Receivable - CAM2,500 — Assets on lease or held for lease, net of accumulated depreciation