Air T, Inc. Reports Earnings Results for the First Quarter Ended June 30, 2021
August 12, 2021 at 04:31 pm EDT
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Air T, Inc. announced earnings results for the first quarter ended June 30, 2021. For the first quarter, the company announced total revenue was USD 36.968 million compared to USD 36.970 million a year ago. Operating loss was USD 4,000 compared to USD 266,000 a year ago. Net income was USD 289,000 compared to net loss of USD 841,000 a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to basic loss per share from continuing operations of USD 0.29 a year ago.
Air T, Inc. is a holding company with a portfolio of operating businesses and financial assets. The Company has four segments: Overnight air cargo, Ground equipment sales, Commercial jet engines and parts, and Corporate and other. Overnight air cargo segment operates in the air express delivery services industry. Ground equipment sales segment manufactures and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, military and industrial customers. Commercial jet engines and 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, and procurement services and overhaul and repair services to airlines. Corporate and other segment acts as the capital allocator and resources for other consolidated businesses. Further, the segment is also comprised of insignificant businesses.
AIR T, INC. 
