Air T, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 12, 2024 at 04:32 pm EST
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Air T, Inc. reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported revenue was USD 63.76 million compared to USD 61.4 million a year ago. Net loss was USD 2.98 million compared to USD 0.59 million a year ago. Basic loss per share from continuing operations was USD 1.06 compared to USD 0.21 a year ago. Diluted loss per share from continuing operations was USD 1.06 compared to USD 0.21 a year ago.
For the nine months, revenue was USD 214.15 million compared to USD 172.95 million a year ago. Net loss was USD 5.12 million compared to USD 3.26 million a year ago. Basic loss per share from continuing operations was USD 1.82 compared to USD 1.14 a year ago. Diluted loss per share from continuing operations was USD 1.82 compared to USD 1.14 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. 
