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Air T (AIRT)

Established in 1980, Air T, Inc. is an industrious American company with a portfolio of businesses, each of which is independent yet interrelated. It seeks dynamic individuals and teams to operate companies using processes that increase value over time. It believes it can apply corporate resources to help activate growth and overcome challenges. Its core segments are overnight air cargo; aviation ground support equipment manufacturing; and commercial aircraft asset management.

Company profile

Ticker
AIRT, AIRTP
Exchange
Website
CEO
Nicholas Swenson
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
AIR TRANSPORTATION HOLDING CO INC
SEC CIK
Subsidiaries
Air T Global Leasing, LLC • CSA Air, Inc. • Global Ground Support, LLC • Mountain Air Cargo, Inc. • Space Age Insurance Company • Stratus Aero Partners LLC • Jet Yard, LLC • Jet Yard Solutions, LLC • AirCo, LLC • AirCo 1, LLC ...
IRS number
521206400

AIRT stock data

Calendar

12 Aug 22
19 Aug 22
31 Mar 23
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Mar 22 Mar 21 Mar 20 Mar 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 9.52M 9.52M 9.52M 9.52M 9.52M 9.52M
Cash burn (monthly) (no burn) 158.67K (no burn) (no burn) 843.67K 2.23M
Cash used (since last report) n/a 266.6K n/a n/a 1.42M 3.75M
Cash remaining n/a 9.26M n/a n/a 8.11M 5.77M
Runway (months of cash) n/a 58.3 n/a n/a 9.6 2.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 Aug 22 Cabillot Raymond E Common Stock Buy Acquire P Yes No 15.3 500 7.65K 3,146
15 Feb 22 Swenson Nicholas John Common Stock Buy Acquire P Yes Yes 24.594 1,100 27.05K 972,584
14 Feb 22 Swenson Nicholas John Common Stock Buy Acquire P Yes Yes 24.72 1,100 27.19K 971,484
11 Feb 22 Swenson Nicholas John Common Stock Buy Acquire P Yes Yes 25.5207 875 22.33K 970,384
10 Feb 22 Swenson Nicholas John Common Stock Buy Acquire P Yes Yes 29 66 1.91K 969,509
10 Feb 22 Swenson Nicholas John Common Stock Buy Acquire P Yes Yes 27.5188 809 22.26K 969,443
9 Feb 22 Swenson Nicholas John Common Stock Buy Acquire P Yes Yes 28.8194 875 25.22K 968,634
8 Feb 22 Swenson Nicholas John Common Stock Buy Acquire P Yes Yes 26.9826 673 18.16K 967,759
8 Feb 22 Swenson Nicholas John Common Stock Buy Acquire P Yes Yes 26.0805 202 5.27K 967,086
7 Feb 22 Swenson Nicholas John Common Stock Buy Acquire P Yes Yes 24.5363 838 20.56K 966,884
58.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 15 11 +36.4%
Opened positions 5 1 +400.0%
Closed positions 1 8 -87.5%
Increased positions 2 3 -33.3%
Reduced positions 4 4
13F shares Current Prev Q Change
Total value 36.74M 35.47M +3.6%
Total shares 1.69M 1.61M +4.9%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
AO Partners I 940.75K $21.26M 0.0%
Farnam Street Partners 446.22K $8.62M 0.0%
Renaissance Technologies 149.81K $3.41M -6.2%
Vanguard 51.05K $1.16M NEW
MS Morgan Stanley 22.75K $518K NEW
Bridgeway Capital Management 17.25K $392K NEW
Dimensional Fund Advisors 17.21K $391K -0.7%
Geode Capital Management 14.94K $339K +10.7%
DCF Advisers 12K $273K +20.0%
BLK Blackrock 9.94K $225K -0.2%
Largest transactions Shares Bought/sold Change
Vanguard 51.05K +51.05K NEW
MS Morgan Stanley 22.75K +22.75K NEW
Bridgeway Capital Management 17.25K +17.25K NEW
Renaissance Technologies 149.81K -9.9K -6.2%
Schwarz Dygos Wheeler Investment Advisors 0 -8.41K EXIT
Tower Research Capital 2.71K +2.71K NEW
DCF Advisers 12K +2K +20.0%
Geode Capital Management 14.94K +1.44K +10.7%
UBS UBS Group AG - Registered Shares 953 +953 NEW
Dimensional Fund Advisors 17.21K -127 -0.7%

Financial report summary

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Management Discussion
  • Consolidated revenue for the three-month period ended June 30, 2022 increased by $13.9 million (38%) compared to the same quarter in the prior fiscal year.
  • Revenues from the air cargo segment for the three-month period ended June 30, 2022 increased by $1,713 (9%) compared to the first quarter of the prior fiscal year. The increase was principally attributable to higher administrative fees and maintenance labor revenue from FedEx.
  • The ground equipment sales segment contributed approximately $5.8 million and $8.2 million to the Company’s revenues for the three-month periods ended June 30, 2022 and 2021 respectively, representing a $2.4 million (29%) decrease in the current quarter. The decrease was primarily driven by lower sales volume of military deicing trucks this quarter compared to prior year comparable quarter. At June 30, 2022, the ground equipment sales segment’s order backlog was $17.2 million compared to $7.1 million at June 30, 2021. Finished Goods inventory increased to $9.1 million as of June 30, 2022 from $7.3 million as of June 30, 2021, as we added additional trucks ready for sale to capitalize on opportunistic sales that may arise as customers continue to recover from the impacts of the pandemic.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: absent, acknowledged, acknowledgment, clarification, deemed, degree, drawn, EBIT, economy, equating, ERC, EUR, fee, forma, goodwill, ING, inherently, intangible, ISIG, lesser, memorialize, methodology, multiplied, Overline, ownership, package, party, pilot, preliminary, Pro, qualification, receipt, Shanwick, shareholder, translated, TruP, unaffiliated, unchanged, unrelated, unused, waterfall, Worthington
Removed: Administration, backed, conferred, consignment, continued, discount, distributed, distribution, dividend, effected, employ, enumerated, equivalent, execute, expired, explained, fact, Force, forgiven, Function, holder, JV, loosen, Mill, offering, PPP, priced, receive, reverse, Road, SBA, September, serve, shared, split, Supplement, target, Warrant