$AIRT
AIR T INC

2021 Q2 Form 10-Q Financial Statement

#000035318421000065 Filed on August 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $36.97M $36.97M
YoY Change -0.01% -21.65%
Cost Of Revenue $28.37M $29.08M
YoY Change -2.44% -15.81%
Gross Profit $8.598M $7.890M
YoY Change 8.97% -37.63%
Gross Profit Margin 23.26% 21.34%
Selling, General & Admin $8.219M $7.550M
YoY Change 8.86% -22.25%
% of Gross Profit 95.59% 95.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $380.0K $609.0K
YoY Change -37.6% -68.72%
% of Gross Profit 4.42% 7.72%
Operating Expenses $36.97M $37.24M
YoY Change -0.71% -19.39%
Operating Profit -$4.000K -$266.0K
YoY Change -98.5% -126.65%
Interest Expense $939.0K $1.161M
YoY Change -19.12% 13.38%
% of Operating Profit
Other Income/Expense, Net $326.0K -$990.0K
YoY Change -132.93% -137.79%
Pretax Income $322.0K -$1.256M
YoY Change -125.64% -134.72%
Income Tax -$5.000K -$300.0K
% Of Pretax Income -1.55%
Net Earnings $289.0K -$841.0K
YoY Change -134.36% -147.17%
Net Earnings / Revenue 0.78% -2.27%
Basic Earnings Per Share $0.10 -$0.29
Diluted Earnings Per Share $0.10 -$0.29
COMMON SHARES
Basic Shares Outstanding 2.882M shares 2.882M shares
Diluted Shares Outstanding 2.890M shares 2.882M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.379M $9.900M
YoY Change -5.26% -44.69%
Cash & Equivalents $7.085M $7.095M
Short-Term Investments $2.294M $2.800M
Other Short-Term Assets $8.972M $18.10M
YoY Change -50.43% 84.69%
Inventory $75.77M $63.88M
Prepaid Expenses
Receivables $10.92M $10.27M
Other Receivables $4.394M $1.400M
Total Short-Term Assets $109.4M $103.6M
YoY Change 5.61% 16.54%
LONG-TERM ASSETS
Property, Plant & Equipment $8.457M $5.190M
YoY Change 62.95% 9.22%
Goodwill $4.227M $4.227M
YoY Change 0.0% -4.31%
Intangibles $878.0K
YoY Change -24.38%
Long-Term Investments $5.643M $4.650M
YoY Change 21.35% 3.89%
Other Assets $8.028M $626.0K
YoY Change 1182.43% 110.42%
Total Long-Term Assets $35.69M $49.53M
YoY Change -27.94% 10.72%
TOTAL ASSETS
Total Short-Term Assets $109.4M $103.6M
Total Long-Term Assets $35.69M $49.53M
Total Assets $145.1M $153.2M
YoY Change -5.24% 14.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.587M $7.722M
YoY Change 24.15% -41.92%
Accrued Expenses $11.09M $15.20M
YoY Change -27.04% 46.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.537M $37.20M
YoY Change -74.36% 33.81%
Total Short-Term Liabilities $30.25M $60.16M
YoY Change -49.71% -0.39%
LONG-TERM LIABILITIES
Long-Term Debt $83.80M $53.70M
YoY Change 56.06% 47.93%
Other Long-Term Liabilities $1.826M $1.435M
YoY Change 27.25% 16.71%
Total Long-Term Liabilities $1.826M $1.435M
YoY Change 27.25% 16.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.25M $60.16M
Total Long-Term Liabilities $1.826M $1.435M
Total Liabilities $123.2M $123.1M
YoY Change 0.1% 16.16%
SHAREHOLDERS EQUITY
Retained Earnings $16.32M $22.93M
YoY Change -28.81% 27.58%
Common Stock $756.0K $756.0K
YoY Change 0.0% 0.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.617M $2.617M
YoY Change 0.0%
Treasury Stock Shares 140.9K shares 140.9K shares
Shareholders Equity $13.74M $23.50M
YoY Change
Total Liabilities & Shareholders Equity $145.1M $153.2M
YoY Change -5.24% 14.59%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $289.0K -$841.0K
YoY Change -134.36% -147.17%
Depreciation, Depletion And Amortization $380.0K $609.0K
YoY Change -37.6% -68.72%
Cash From Operating Activities -$8.821M -$3.335M
YoY Change 164.5% -161.9%
INVESTING ACTIVITIES
Capital Expenditures $136.0K $586.0K
YoY Change -76.79% 134.4%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $228.0K $78.00K
YoY Change 192.31% -329.41%
Cash From Investing Activities -$1.449M -$548.0K
YoY Change 164.42% -85.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.042M $2.437M
YoY Change -57.24% -65.31%
Cash From Financing Activities $5.819M $5.040M
YoY Change 15.46% 151.0%
NET CHANGE
Cash From Operating Activities -$8.821M -$3.335M
Cash From Investing Activities -$1.449M -$548.0K
Cash From Financing Activities $5.819M $5.040M
Net Change In Cash -$4.500M $1.085M
YoY Change -514.75% -70.02%
FREE CASH FLOW
Cash From Operating Activities -$8.821M -$3.335M
Capital Expenditures $136.0K $586.0K
Free Cash Flow -$8.957M -$3.921M
YoY Change 128.44% -176.31%

Facts In Submission

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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
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CY2021Q2 us-gaap Warrants And Rights Outstanding
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CY2021Q2 us-gaap Revenues
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36968000 USD
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380000 USD
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CY2021Q2 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
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CY2021 us-gaap Minority Interest Change In Redemption Value
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400000 USD
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300000 USD
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200000 USD
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-100000 USD

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