Note 4 - Net Earnings (Loss) Per Share (As Restated)

3 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

4. Net Earnings (Loss) Per Share (As Restated)

Basic earnings

 (loss) per share was calculated by dividing net income (loss) attributable to Air T, Inc. stockholders by the weighted average number of common shares outstanding during each period. For purposes of calculating diluted earnings per share, shares issuable under employee and director stock options were considered potential common shares and were included in the weighted average common shares unless they were anti-dilutive.

The computation of basic and diluted earnings (loss) per common share is as follows:

	Three Months Ended June 30,
	2016			2015
	(As Restated)*
Net loss attributable to Air T, Inc. Stockholders as previously stated	$	(3,676,302	)	$	(736,040	)
Net loss attributable to Air T, Inc. Stockholders as restated	$	(5,751,471	)	$	(736,040	)
Loss Per Share:
Basic, as previously stated	$	(1.55	)	$	(0.31	)
Basic, as restated	$	(2.42	)	$	(0.31	)
Diluted, as previously stated	$	(1.55	)	$	(0.31	)
Diluted, as restated	$	(2.42	)	$	(0.31	)
Weighted Average Shares Outstanding:
Basic		2,372,527			2,372,527
Diluted		2,372,527			2,372,527

* Earnings per common share have been restated for the

three

-month period ended

June 30, 2016.

See Note

1A.

The Company reported a net loss for the

three

-month periods ended

June 30, 2016

and

2015.

As a result of the net loss, there is

no

potential dilutive effect of outstanding stock options.

  See Note

14

for a description of a transaction subsequent to

June 30, 2016

that caused a reduction in the Company’s outstanding shares. Had this transaction occurred during the quarter ended

June 30, 2016, 

basic and diluted net loss per share would have been higher than as presented above.