Air T, Inc. Reports Earnings Results for the First Quarter Ended June 30, 2021
August 13, 2021 at 02:01 am IST
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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's segments include overnight air cargo, ground equipment sales, commercial jet engines and parts, and corporate and 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 Company also offers fixed-pedestal-mounted deicers. The 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. The Corporate and other segment acts as the capital allocator and resource for other consolidated businesses.