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Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
shares in Thousands
3 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Revenues:    
Total revenue $ 50,862,000 $ 36,968,000
Operating Expenses:    
General and administrative 11,781,000 8,219,000
Depreciation and amortization 861,000 380,000
(Gain) Loss on sale of property and equipment (2,000) 3,000
Operating expenses 50,028,000 36,972,000
Operating Income (Loss) 834,000 (4,000)
Non-operating (Expense) Income:    
Interest expense (1,822,000) (939,000)
Income from equity method investments 532,000 83,000
Other (154,000) 1,182,000
Nonoperating income (expense) (1,444,000) 326,000
(Loss) Income before income taxes (610,000) 322,000
Income Taxes Expense (Benefit) 192,000 (5,000)
Net (Loss) Income (802,000) 327,000
Net Income Attributable to Non-controlling Interests (631,000) (38,000)
Net (Loss) Income Attributable to Air T, Inc. Stockholders $ (1,433,000) $ 289,000
(Loss) Income per share (Note 6)    
Basic (in dollars per share) $ (0.50) $ 0.10
Diluted (in dollars per share) $ (0.50) $ 0.10
Weighted Average Shares Outstanding:    
Basic (in shares) 2,866 2,882
Diluted (in shares) 2,866 2,890
Overnight air cargo    
Operating Revenues:    
Total revenue $ 20,564,000 $ 18,851,000
Operating Expenses:    
Cost of Revenue 18,071,000 16,744,000
Depreciation and amortization 20,000 13,000
Operating Income (Loss) 1,077,000 732,000
Ground equipment sales    
Operating Revenues:    
Total revenue 5,815,000 8,182,000
Operating Expenses:    
Cost of Revenue 4,432,000 5,529,000
Depreciation and amortization 49,000 32,000
Operating Income (Loss) 142,000 1,423,000
Commercial jet engines and parts    
Operating Revenues:    
Total revenue 22,855,000 9,594,000
Operating Expenses:    
Cost of Revenue 14,885,000 6,097,000
Depreciation and amortization 434,000 265,000
Operating Income (Loss) 3,074,000 (238,000)
Corporate and other    
Operating Revenues:    
Total revenue 1,628,000 341,000
Operating Expenses:    
Depreciation and amortization 358,000 70,000
Operating Income (Loss) $ (3,459,000) $ (1,921,000)