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Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Operating Revenues:        
Total $ 73,300 $ 55,486 $ 171,181 $ 148,173
Operating Expenses:        
Overnight air cargo 16,806 16,292 51,031 46,816
Ground equipment sales 12,960 13,760 33,049 29,677
Printing equipment and maintenance 51 95 211 289
Commercial jet engines and parts 29,308 12,268 48,644 38,052
General and administrative 9,499 9,048 28,459 24,426
Depreciation and amortization 975 2,147 4,610 5,204
Impairment 4 7 18 28
(Gain) Loss on sale of property and equipment (23) 4 (26) 4
Operating Expenses 69,580 53,621 165,996 144,496
Operating Income from continuing operations 3,720 1,865 5,185 3,677
Non-operating Income (Expense):        
Other-than-temporary impairment loss on investments (1,095) (2,000) (2,305) (2,000)
Interest expense (1,227) (1,186) (4,298) (2,608)
Gain on settlement of bankruptcy 0 0 4,527 0
Bargain purchase acquisition gain 0 0 49 1,984
Income (loss) from equity method investments (282) 201 (636) 371
Other 81 (623) (124) (489)
Nonoperating Income (Expense) (2,523) (3,608) (2,787) (2,742)
Income (Loss) Before Income Taxes 1,197 (1,743) 2,398 935
Income Taxes (Benefit) 616 198 (52) 241
Net income (Loss) from continuing operations 581 (1,941) 2,450 694
Loss from discontinued operations, net of tax 0 (376) (70) (1,156)
Gain/ (Loss) on sale of discontinued operations, net of tax (222) 0 8,137 0
Net income (loss) 359 (2,317) 10,517 (462)
Net income from continuing operations attributable to non-controlling interests (789) (398) (3,449) (745)
Net Income (Loss) Attributable to Air T, Inc. Stockholders $ (430) $ (2,715) $ 7,068 $ (1,207)
Loss from continuing operations per share (Note 6)        
Basic (in dollars per share) $ (0.07) $ (0.77) $ (0.36) $ (0.02)
Diluted (in dollars per share) (0.07) (0.77) (0.36) (0.02)
Income (Loss) from discontinued operations per share (Note 6)        
Basic (in dollars per share) (0.07) (0.12) 2.93 (0.38)
Diluted (in dollars per share) (0.07) (0.12) 2.93 (0.38)
Income (Loss) per share (Note 6)        
Basic (in dollars per share) (0.14) (0.89) 2.57 (0.40)
Diluted (in dollars per share) $ (0.14) $ (0.89) $ 2.57 $ (0.40)
Weighted Average Shares Outstanding:        
Basic (in shares) 2,973,000 3,042,000 2,752,000 3,058,000
Diluted (in shares) 2,973,000 3,042,000 2,756,000 3,058,000
Overnight air cargo        
Operating Revenues:        
Total $ 18,706 $ 17,868 $ 56,771 $ 52,573
Ground equipment sales        
Operating Revenues:        
Total 15,949 16,278 40,939 35,502
Printing equipment and maintenance        
Operating Revenues:        
Total 82 105 396 544
Commercial jet engines and parts        
Operating Revenues:        
Total 38,536 20,990 72,665 58,953
Corporate and other        
Operating Revenues:        
Total $ 27 $ 245 $ 410 $ 601