AIRT Air T Inc.
Air T, Inc. is a holding company, which engages in the provision of overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other industrial equipment, and provides ground support equipment and facilities maintenance to airlines. It operates through the following segments: Overnight Air Cargo, Ground Equipment Sales, Ground Support Services, Printing Equipment & Maintenance, Commercial Aircrafts Engines & Parts, Printing Equipment & Maintenance and Corporate & Other. The Overnight Air Cargo segment operates in the air express delivery services industry. The Ground Equipment Sales segment manufactures and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, the military and industrial customers. The Ground Support Services segment offers ground support equipment maintenance and facilities maintenance services to domestic airlines and aviation service providers. The Commercial Aircrafts, Engines & Parts segment manages and leases aviation assets, supplies surplus and aftermarket commercial jet engine components, provides commercial aircraft disassembly, part-out services, commercial aircraft parts sales. The Printing Equipment & Maintenance segment designs, manufactures and sells advanced digital print production equipment and provides maintenance services to commercial customers. The Corporate & Other segment acts as the capital allocator and resource for other segments. Air T was founded in 1980 and is headquartered in Denver, NC.
Company profile
Ticker
AIRT, AIRTP
Exchange
Website
CEO
Nicholas John Swenson
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
FedEx • Air Transport Services ...
Former names
AIR TRANSPORTATION HOLDING CO INC
SEC CIK
Corporate docs
IRS number
521206400
AIRT stock data
()
Calendar
14 Aug 20
23 Sep 20
31 Mar 21
News
Financial summary
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Financial data from Air T earnings reports.
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 23 Mar 20 | Swenson Nicholas John | Common Stock | Buy | Aquire P | No | 11.95 | 2,862 | 34.2K | 97,800 |
| 23 Mar 20 | Swenson Nicholas John | Common Stock | Buy | Aquire P | No | 11.95 | 2,862 | 34.2K | 883,557 |
| 20 Mar 20 | Cabillot Raymond E | Common Stock | Buy | Aquire P | No | 12.75 | 174 | 2.22K | 352,071 |
| 19 Mar 20 | Swenson Nicholas John | Common Stock | Buy | Aquire P | No | 10.5 | 7,498 | 78.73K | 94,938 |
| 19 Mar 20 | Cabillot Raymond E | Common Stock | Buy | Aquire P | No | 11.2248 | 27,400 | 307.56K | 351,897 |
| 18 Mar 20 | Cabillot Raymond E | Common Stock | Buy | Aquire P | No | 11.3323 | 11,996 | 135.94K | 324,497 |
Institutional ownership Q2 2020
17.6% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 15 |
| Opened positions | 4 |
| Closed positions | 5 |
| Increased positions | 2 |
| Reduced positions | 5 |
13F shares |
Current |
|---|---|
| Total value | 6.23M |
| Total shares | 507.94K |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| Renaissance Technologies | 197.41K | $2.32M |
| California Public Employees Retirement System | 95.28K | $1.05M |
| FMR | 78.21K | $860K |
| Vanguard | 52.07K | $612K |
| WFC Wells Fargo & Company | 51.8K | $608K |
| BLK BlackRock | 14.59K | $171K |
| Dimensional Fund Advisors | 13.98K | $154K |
| Carroll Financial Associates | 1.51K | $17K |
| James Investment Research | 1.5K | $18K |
| MS Morgan Stanley | 1.1K | $13K |
Financial report summary
?Management Discussion
- Consolidated revenue decreased by $10.2 million (22%) to $37.0 million for the three-month period ended June 30, 2020 compared to the same quarter in the prior fiscal year.
- Revenues from the air cargo segment decreased by $2.1 million (12%) compared to the first quarter of the prior fiscal year. The decrease was principally attributable to lower maintenance revenue from customers due to COVID-19.
- The ground equipment sales segment contributed approximately $15.8 million and $12.2 million to the Company’s revenues for the three-month periods ended June 30, 2020 and 2019 respectively, representing a $3.6 million (29%) increase in the current quarter primarily driven by strong sales of catering trucks (compared to no catering truck sales in the prior year comparable quarter). At June 30, 2020, the ground equipment sales segment’s order backlog was $48.7 million compared to $31.8 million at June 30, 2019.
Content analysis
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H.S. junior Avg
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New words:
absence, accelerated, add, adding, Aid, anticipate, broken, broker, catering, cautioned, certainty, confidence, consecutive, consumer, criteria, cured, customary, daily, deferral, dispose, earned, EBITDA, efficient, eligible, employ, evidenced, experience, expressed, extent, extreme, Facilitation, floor, fluidity, forecasted, foregoing, forgiven, function, Harbor, health, hereto, highly, identify, intended, involve, job, led, Lending, length, leverage, liable, lieu, lifted, Litigation, low, Main, met, mitigate, monitoring, mortgage, onset, outbreak, outlined, pandemic, payable, paydown, payroll, percent, PPP, predict, predicted, prediction, pressure, profit, purport, rapid, reform, relationship, reliance, Relief, rent, rest, revise, Safe, safety, seventeen, situation, sound, speak, spending, Street, strong, team, thirty, thousand, travel, truck, ultimate, uncertain, undue, unknown, unprecedented, unsecured, utility, utilization, viral, weak
Removed:
acquire, acquired, afforded, airplane, annum, application, assumed, assure, attributed, attribution, bargain, bidding, capitalized, Churchill, classification, combination, comparative, converted, cumulative, currency, distributing, earnest, excluded, exemption, expired, exposed, face, February, footnote, foreign, forma, formal, guarantor, implementation, methodology, multiple, participate, participation, permitted, policy, priority, pro, protection, qualitative, ratable, refinance, refinancing, reinsurance, retired, sequencing, Specifically, state, subsequent, substantive, suffered, supplemental, transition, translated, volatile, Worthington
Financial reports
10-Q
2020 Q1
Quarterly report
14 Aug 20
10-K
2019 FY
Annual report
26 Jun 20
10-Q
2020 Q3
Quarterly report
13 Feb 20
10-Q
2020 Q2
Quarterly report
13 Nov 19
10-Q
2020 Q1
Quarterly report
14 Aug 19
10-K
2019 FY
Annual report
28 Jun 19
10-Q
2019 Q3
Quarterly report
14 Feb 19
10-Q
2019 Q2
Quarterly report
14 Nov 18
10-Q
2019 Q1
Quarterly report
14 Aug 18
10-K
2018 FY
Annual report
29 Jun 18
Current reports
8-K
Regulation FD Disclosure
2 Sep 20
8-K
Submission of Matters to a Vote of Security Holders
17 Aug 20
8-K
Regulation FD Disclosure
11 Aug 20
8-K
Regulation FD Disclosure
10 Jun 20
8-K
Entry into a Material Definitive Agreement
16 Apr 20
8-K
Entry into a Material Definitive Agreement
28 Feb 20
8-K
Entry into a Material Definitive Agreement
7 Feb 20
8-K
Entry into a Material Definitive Agreement
28 Jan 20
8-K
Entry into a Material Definitive Agreement
7 Jan 20
8-K
Entry into a Material Definitive Agreement
26 Dec 19
Registration and prospectus
424B3
Prospectus supplement
2 Sep 20
424B3
Prospectus supplement
9 Jun 20
424B1
Prospectus with pricing info
10 Jun 19
S-1/A
IPO registration (amended)
4 Jun 19
8-A12B
Registration of securities on exchange
4 Jun 19
S-1/A
IPO registration (amended)
29 May 19
S-1/A
IPO registration (amended)
22 Jan 19
S-1
IPO registration
20 Nov 18
8-A12B/A
Registration of securities on exchange (amended)
26 Sep 16
8-A12B/A
Registration of securities on exchange (amended)
17 Dec 14
Proxies
DEFA14A
Additional proxy soliciting materials
29 Jul 20
DEF 14A
Definitive proxy
20 Jul 20
DEF 14A
Definitive proxy
19 Jul 19
DEF 14A
Definitive proxy
18 Jul 18
DFAN14A
Additional proxy materials by non-management
5 Jul 18
DFAN14A
Additional proxy materials by non-management
2 Jul 18
DFAN14A
Additional proxy materials by non-management
27 Jun 18
DFAN14A
Additional proxy materials by non-management
5 Jun 18
DEF 14A
Definitive proxy
21 Nov 17
DEF 14A
Definitive proxy
18 Jul 16
Other
SD
Conflict minerals disclosure
29 May 20
EFFECT
Notice of effectiveness
10 Jun 19
CORRESP
Correspondence with SEC
5 Jun 19
CORRESP
Correspondence with SEC
4 Jun 19
SD
Conflict minerals disclosure
30 May 19
CORRESP
Correspondence with SEC
28 May 19
CT ORDER
Confidential treatment order
13 Feb 19
CT ORDER
Confidential treatment order
13 Feb 19
CT ORDER
Confidential treatment order
19 Dec 18
CT ORDER
Confidential treatment order
19 Nov 18
Ownership
SC 13G/A
OXBRIDGE RE / AIR T ownership change
14 Aug 20
SC 13D/A
AIR T / Swenson Nicholas John ownership change
1 Apr 20
SC 13D/A
AIR T / FARNAM STREET PARTNERS ownership change
31 Mar 20
4/A
AIR T / Nicholas John Swenson ownership change
24 Mar 20
4
AIR T / RAYMOND E CABILLOT ownership change
23 Mar 20
4
AIR T / Nicholas John Swenson ownership change
23 Mar 20
4
AIR T / Seth G Barkett ownership change
20 Mar 20
4
AIR T / Nicholas John Swenson ownership change
20 Mar 20
4
AIR T / RAYMOND E CABILLOT ownership change
19 Mar 20
4
AIR T / RAYMOND E CABILLOT ownership change
18 Mar 20