-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JO/sM2qphAqOlmEFNl5CQh6Zq/i9H6EcqiV9WbxNeDPNHPNRfzZ4+GfopDzO5HIZ W3nwWL79Uc7kuou06Y3e+A== 0000353184-04-000021.txt : 20040729 0000353184-04-000021.hdr.sgml : 20040729 20040729171735 ACCESSION NUMBER: 0000353184-04-000021 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040630 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040729 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIR T INC CENTRAL INDEX KEY: 0000353184 STANDARD INDUSTRIAL CLASSIFICATION: AIR COURIER SERVICES [4513] IRS NUMBER: 521206400 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-11720 FILM NUMBER: 04939859 BUSINESS ADDRESS: STREET 1: 3524 AIRPORT RD CITY: MAIDEN STATE: NC ZIP: 28650 BUSINESS PHONE: 7043772109 MAIL ADDRESS: STREET 1: P O BOX 488 CITY: DENVER STATE: NC ZIP: 28037 FORMER COMPANY: FORMER CONFORMED NAME: AIR TRANSPORTATION HOLDING CO INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ATLANTA EXPRESS AIRLINE CORP DATE OF NAME CHANGE: 19840321 8-K/A 1 eightk.txt AMENDMENT TO 8K 6/30/04 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K/A (Amendment No. 1) CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 29, 2004 AIR T, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 0-11720 52-1206400 (State or Other Jurisdiction (Commission File Number) (I.R.S. Employer of Incorporation) Identification No.) 3524 Airport Road Maiden, North Carolina 28650 (Address of Principal Executive Offices) (Zip Code) (704) 377-2109 (Registrant's Telephone Number, Including Area Code) Explanatory Note This Amendment No. 1 to Current Report on Form 8-K/A of Air T, Inc., amends our Current Report on Form 8-K dated July 29, 2004 (the "Initial Report"). The Initial Report was submitted to report our announcement of our financial results for the three ended June 30, 2004 by a press release issued on July 29, 2004. In filing the Initial Report, we inadvertently omitted all components of the Initial Report other than the press release. This Amendment No. 1 restates the Initial Report to include all components that had been omitted. Item 7. Financial Statements and Exhibits. (a) Financial Statements Not applicable (b) Pro Forma Financial Information Not applicable (c) Exhibits Exhibit 99.1 Press release dated July 29, 2004 announcing financial results for the three months ended June 30, 2004 Item 12. Results of Operations and Financial Condition. On July 29, 2004, we issued a press release announcing our financial results for the three months ended June 30, 2004. We are submitting that press release as Exhibit 99.1 to this Amendment No. 1 on Form 8-K/A. * * * Note: The information contained herein (including Exhibit 99.1) shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 29, 2004 AIR T, INC. By: /s/ John J. Gioffre _ John J. Gioffre, Secretary Exhibit Index Exhibit Description Exhibit Press release dated July 29, 2004 announcing 99.1 financial results for the three months ended June 30, 2004 EX-99 2 press.txt 6/30/04 PRESS RELEASE July 29, 2004 Contact: John Gioffre Chief Financial Officer 3524 Airport Road Maiden, NC 28650 (828) 464-8741 Ext. 215 FOR IMMEDIATE RELEASE AIR T, INC. REPORTS UNAUDITED FIRST QUARTER EARNINGS MAIDEN, NC - Air T, Inc. (AirT) (NASDAQ: AIRT) today reported consolidated net earnings of $533,000 ($0.20 per diluted share) for fiscal 2005's first quarter ended June 30, 2004, a $184,000 (53%) increase compared to a consolidated net earnings of $349,000 ($0.13 per diluted share) for the similar fiscal 2004 period. Fiscal 2005's increase in net earnings was primarily the result of increased levels of service and equipment orders related to both the air cargo and ground equipment sectors of the Company's business. The discontinuation and subsequent sale of assets related to the Company's aircraft parts brokerage and repair service business sector in fiscal 2004 further contributed to increased net earnings in the first quarter of fiscal 2005. Consolidated revenues increased $4,031,000 (36.5%) to $15,087,000 for the quarter ended June 30, 2004 compared to the same quarter in the prior fiscal year. The increase in current period revenues primarily resulted from a $1,776,000 (24.2%) increase in air cargo revenues to $9,051,000 and an increase in ground equipment revenues of $2,265,000 (60.1%) to $6,036,000. Walter Clark, Chairman and Chief Executive Officer of AirT, commented, "These earnings are a furtherance of the strong results shown by AirT in the last fiscal year. We continue to provide services and products that offer cost effective solutions to meet our customer's needs. The Company operates in two business segments. AirT, through its subsidiaries, provides overnight air freight service to the express delivery industry, and manufactures, sells and services aircraft ground support and special purpose industrial equipment. AirT is one of the largest, small-aircraft air cargo operators in the United States. It currently operates a fleet of single and twin-engine turbo-prop aircraft nightly in the eastern half of the United States and Canada, Puerto Rico and the Virgin Islands. Statements in this press release, which contain more than historical information, may be considered forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which are subject to risks and uncertainties. Actual results may differ materially from those expressed in the forward-looking statements because of important potential risks and uncertainties, including but not limited to future economic conditions, inflation rates, competition, changes in technology or government regulation, and the impact of future terrorist activities in the United States and abroad. A forward- looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. We are under no obligation, and we expressly disclaim any obligation, to update or alter any forward- looking statements, whether as a result of new information, future events or otherwise. FINANCIAL HIGHLIGHTS (In thousands, except per share data) Three Months Ended (Unaudited) 06/30/2004 06/30/2003 Continuing Operations Revenues $ 15,087 $ 11,056 Net Earnings from Continuing Operations 533 444 Net Loss from Discontinued Operations - (95) Net Earnings 533 349 Net Earnings (Loss) Per Share-Diluted: Continuing Operations $ 0.20 $ 0.16 Discontinued Operations - (0.03) Total Net Earnings Per Share-Diluted $ 0.20 $ 0.13 Average Common Shares Outstanding 2,687 2,726 -----END PRIVACY-ENHANCED MESSAGE-----