Air T, Inc. (AIRT) financial statements (2022 and earlier)

Company profile

Business Address 5930 BALSOM RIDGE ROAD
DENVER, NC 28037
State of Incorp. DE
Fiscal Year End March 31
SIC 4513 - Air Courier Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
TTM
3/31/2021
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,20612,4037,62914,2845,0944,89410,290
Cash and cash equivalents2,57610,9965,95212,5244,8032,7635,345
Short-term investments2,6301,4071,6771,7602902,1314,945
Restricted cash and investments3,9776,43810,7049541,505890821
Receivables15,28310,89414,25119,23616,7152,7001,313
Inventory, net of allowances, customer advances and progress billings76,44671,97160,62329,96734,23119,77912,274
Inventory76,44671,97160,62329,96734,23119,77912,274
Prepaid expense   1,8801,4561,6721,668
Other undisclosed current assets5,8844,0685,2795,0272,67118,92412,594
Total current assets:106,796105,77498,48671,34861,67148,85938,960
Noncurrent Assets
Finance lease, right-of-use asset5,8962,13127,945
Operating lease, right-of-use asset7,0997,7578,116
Property, plant and equipment21,3288,5195,2724,81820,2735,3244,578
Long-term investments and receivables8,7854,4755,2085,9225,3432,5304,815
Long-term investments8,7854,4755,2085,6115,0322,4634,711
Accounts and financing receivable, after allowance for credit loss   31131167104
Intangible assets, net (including goodwill)4,2274,2274,9765,6435,7305,7941,385
Goodwill4,2274,2274,2274,4184,4184,418275
Intangible assets, net (excluding goodwill)  7491,2251,3121,3771,109
Other noncurrent assets9,6657,867366491421372318
Other undisclosed noncurrent assets  1,05826,9203,7082,4552,100
Total noncurrent assets:57,00034,97652,94143,79435,47616,47613,195
TOTAL ASSETS:163,796140,750151,427115,14297,14765,33552,155
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities7,9528,38310,86426,53921,92520,24413,858
Accounts payable7,9528,34410,86412,55310,18111,5717,004
Accrued liabilities   4,41411,7448,6736,843
Employee-related liabilities   8,910   
Taxes payable 39 662  11
Debt2,9625,63943,85824,7359,230251,859
Contract with customer, liability1,520
Other undisclosed current liabilities10,29614,15713,024 23  
Total current liabilities:21,21028,17967,74652,79431,17820,26915,717
Noncurrent Liabilities
Long-term debt and lease obligation111,99188,93250,60932,91838,85518,4135
Long-term debt, excluding current maturities105,43681,85743,13632,91838,85518,4135
Operating lease, liability6,5557,0757,473
Liabilities, other than long-term debt1,4152,3271,9815978783,0471,161
Deferred tax liabilities, net 928546
Deferred income tax liabilities607595579
Other liabilities8081,7321,4025977863,039615
Total noncurrent liabilities:113,40691,25952,59033,51439,73321,4601,166
Total liabilities:134,616119,438120,33686,30870,91141,72916,883
Temporary equity, carrying amount7,8856,5986,0805,4761,9931,444 
Stockholders' equity
Stockholders' equity attributable to parent20,18213,72524,00624,35825,11822,96634,774
Common stock756756756506511511593
Treasury stock, value(2,617)(2,617)(2,617)    
Additional paid in capital315 2,6362,8674,1724,2064,948
Accumulated other comprehensive loss(555)(684)(537)(205)(261)(212)(118)
Retained earnings22,28316,27023,76821,19120,69618,46129,351
Stockholders' equity attributable to noncontrolling interest1,1139891,005(1,001)(875)(803)498
Total stockholders' equity:21,29514,71425,01123,35824,24322,16235,272
TOTAL LIABILITIES AND EQUITY:163,796140,750151,427115,14297,14765,33552,155

Income statement (P&L) ($ in thousands)

12/31/2021
TTM
3/31/2021
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
Revenues172,366175,121236,785249,834194,519148,472148,212
Cost of revenue
(Cost of Goods and Services Sold)
 (6,405)     
Other undisclosed gross profit(6,405)      
Gross profit:165,961168,716236,785249,834194,519148,472148,212
Operating expenses(177,935)(184,296)(229,494)(241,770)(190,274)(151,572)(142,180)
Other undisclosed operating income6,4056,405     
Operating income (loss):(5,569)(9,175)7,2918,0654,246(3,101)6,032
Nonoperating income (expense)5,395(2,606)(4,667)(3,363)(1,594)(1,118)122
Investment income, nonoperating   (228)55(833)50
Foreign currency transaction gain (loss), before tax   (114)(229)28780
Other nonoperating income (expense)1,9462,741(1,336) (1,725)(572)73
Interest and debt expense(4,553)(4,624)(4,692)(3,427)  (81)
Income (loss) from continuing operations before equity method investments, income taxes:(4,727)(16,405)(2,068)1,2752,652(4,219)6,073
Other undisclosed income from continuing operations before income taxes4,5534,6244,6923,427  81
Income (loss) from continuing operations before income taxes:(174)(11,781)2,6244,7022,652(4,219)6,153
Income tax expense (benefit)1,4713,387544(1,502)(195)(725)(2,395)
Income (loss) from continuing operations:1,297(8,394)3,1683,2002,457(4,944)3,758
Loss from discontinued operations  (114)    
Income (loss) before gain (loss) on sale of properties:1,297(8,394)3,0543,2002,457(4,944)3,758
Other undisclosed net income 48,179    
Net income (loss):1,297(8,390)11,2333,2002,457(4,944)3,758
Net income (loss) attributable to noncontrolling interest(330)1,113(3,577)(1,860)(179)1,7311,185
Net income (loss) available to common stockholders, diluted:967(7,277)7,6561,3402,277(3,214)4,943

Comprehensive Income ($ in thousands)

12/31/2021
TTM
3/31/2021
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
Net income (loss):1,297(8,390)11,2333,2002,457(4,944)3,758
Other comprehensive income (loss)38(165)(317)(10)(45)(54)(31)
Comprehensive income (loss):1,335(8,555)10,9163,1902,412(4,998)3,727
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(330)1,113(3,592)(1,900)(183)1,7131,233
Comprehensive income (loss), net of tax, attributable to parent:1,005(7,442)7,3241,2892,228(3,285)4,960

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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