Air T, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2021
November 12, 2021 at 04:22 pm EST
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Air T, Inc. reported earnings results for the second quarter and six months ended September 30, 2021. For the second quarter, the company reported revenue was USD 43.24 million compared to USD 35.6 million a year ago. Net income was USD 7.56 million compared to net loss of USD 2.92 million a year ago. Basic earnings per share from continuing operations was USD 2.62 compared to basic loss per share from continuing operations of USD 1.01 a year ago. Diluted earnings per share from continuing operations was USD 2.6 compared to diluted loss per share from continuing operations of USD 1.01 a year ago. Basic earnings per share was USD 2.62 compared to basic loss per share of USD 1.01 a year ago. Diluted earnings per share was USD 2.6 compared to diluted loss per share of USD 1.01 a year ago.
For the six months, revenue was USD 80.21 million compared to USD 72.58 million a year ago. Net income was USD 7.84 million compared to net loss of USD 3.76 million a year ago. Basic earnings per share from continuing operations was USD 2.72 compared to basic loss per share from continuing operations of USD 1.31 a year ago. Diluted earnings per share from continuing operations was USD 2.71 compared to diluted loss per share from continuing operations of USD 1.31 a year ago. Basic earnings per share was USD 2.72 compared to basic loss per share of USD 1.31 a year ago. Diluted earnings per share was USD 2.71 compared to diluted loss per share of USD 1.31 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.