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

NASDAQ

Website

www.airt.net

CEO

Nicholas Swenson

Incorporated

Delaware

Location

North Carolina

Fiscal year end

Mar 31

Sector

Transportation and Warehousing > Couriers and Express Delivery Services

Industry (SIC)

Air Courier Services

Fedex • Air Transport Services ...

Former names

AIR TRANSPORTATION HOLDING CO INC

SEC CIK

0000353184

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

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

1M 1Y 5Y

News

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Press releases

From Benzinga Pro

Air T, Inc. Reports First Quarter Fiscal 2023 Results

12 Aug 22

DENVER, NC / ACCESSWIRE / August 12, 2022 / Air T, Inc. (NASDAQ:AIRT) is an industrious American company with a portfolio of businesses, each of which is independent yet interrelated. We seek dynamic individuals and

Air T, Inc. Announces Webcast Availability for 2022 Annual Meeting of Stockholders

10 Aug 22

DENVER, NC / ACCESSWIRE / August 10, 2022 / Air T, Inc. (NASDAQ:AIRT) announced today that the Company's 2022 Annual Meeting of Stockholders (the "Annual Meeting") will be available to attendees via webcast as

Calendar

12 Aug 22

19 Aug 22

31 Mar 23

Financial summary

Financial statements Chart AIRT financial data

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

Financial data from Air T earnings reports.

Recent insider trades

AIRT insider ownership history Insider history

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

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

AIRT institutional ownership history Ownership history

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%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

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

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

From filing 10-Q 2023 Q1

Financial reports

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