$AIRT
AIR T INC Stock $airt

$airt Overview Financials Valuation SEC Filings Company Website

2015 Q3 Form 10-Q Financial Statement

#000143774915019930 Filed on November 06, 2015

Income Statement

Concept	2015 Q3	2015 Q1	2014 Q3
Revenue	$44.65M	$24.89M	$34.63M
YoY Change	28.96%	-2.29%	43.14%
Cost Of Revenue	$35.29M	$22.34M	$28.14M
YoY Change	25.41%	5.93%	37.67%
Gross Profit	$9.370M	$2.550M	$6.480M
YoY Change	44.6%	-41.78%	72.8%
Gross Profit Margin	20.98%	10.25%	18.71%
Selling, General & Admin	$3.660M	$3.590M	$3.750M
YoY Change	-2.4%	8.79%	32.98%
% of Gross Profit	39.06%	140.78%	57.87%
Research & Development	$0.00
YoY Change
% of Gross Profit	0.0%
Depreciation & Amortization	$190.0K	$200.0K	$220.0K
YoY Change	-13.64%	-4.76%	15.79%
% of Gross Profit	2.03%	7.84%	3.4%
Operating Expenses	$39.15M	$3.770M	$32.03M
YoY Change	22.23%	7.41%	967.6%
Operating Profit	$5.505M	-$1.420M	$2.597M
YoY Change	111.98%	-264.35%	245.35%
Interest Expense	$9.690K	$0.00	-$10.00K
YoY Change	-196.9%
% of Operating Profit	0.18%		-0.39%
Other Income/Expense, Net	-$9.690K	$0.00	-$12.12K
YoY Change	-20.02%	-100.0%
Pretax Income	$5.495M	-$1.420M	$2.580M
YoY Change	112.98%	-261.36%	239.47%
Income Tax	$1.701M	-$560.0K	$766.2K
% Of Pretax Income	30.96%		29.7%
Net Earnings	$3.794M	-$856.0K	$1.818M
YoY Change	108.69%	-305.28%	298.68%
Net Earnings / Revenue	8.5%	-3.44%	5.25%
Basic Earnings Per Share	$1.60	-$0.36	$0.77
Diluted Earnings Per Share	$1.58	-$0.36	$0.77
COMMON SHARES
Basic Shares Outstanding	2.373M		2.355M
Diluted Shares Outstanding	2.397M		2.375M

Balance Sheet

Concept	2015 Q3	2015 Q1	2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$9.704M	$19.40M	$5.100M
YoY Change	90.28%	273.08%	37.84%
Cash & Equivalents	$3.428M	$13.39M	$209.2K
Short-Term Investments	$6.276M	$5.300M	$4.800M
Other Short-Term Assets	$1.800M	$1.700M	$2.000M
YoY Change	-10.0%	1152.51%	0.0%
Inventory	$9.901M	$7.790M	$8.900M
Prepaid Expenses	$450.3K	$612.3K
Receivables	$17.88M	$9.535M	$16.70M
Other Receivables	$0.00	$200.0K	$0.00
Total Short-Term Assets	$35.88M	$38.67M	$32.70M
YoY Change	9.71%	24.14%	0.62%
LONG-TERM ASSETS
Property, Plant & Equipment	$3.833M	$2.571M	$4.100M
YoY Change	-6.51%	-35.49%	0.0%
Goodwill
YoY Change
Intangibles		$0.00
YoY Change
Long-Term Investments	$4.100M
YoY Change
Other Assets	$271.2K	$224.2K	$2.600M
YoY Change	-89.57%	65.18%	36.84%
Total Long-Term Assets	$10.25M	$4.786M	$6.700M
YoY Change	52.92%	-21.14%	9.84%
TOTAL ASSETS
Total Short-Term Assets	$35.88M	$38.67M	$32.70M
Total Long-Term Assets	$10.25M	$4.786M	$6.700M
Total Assets	$46.12M	$43.46M	$39.40M
YoY Change	17.06%	16.75%	2.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$7.734M	$4.716M	$5.600M
YoY Change	38.1%	-26.62%	-26.32%
Accrued Expenses	$3.388M	$3.529M	$2.500M
YoY Change	35.51%	36.14%	19.05%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00		$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$12.02M	$8.245M	$8.100M
YoY Change	48.45%	-8.58%	-16.49%
LONG-TERM LIABILITIES
Long-Term Debt	$13.82M	$13.66M	$1.300M
YoY Change	963.22%		62.5%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$13.82M	$13.66M	$1.300M
YoY Change	963.22%		62.5%
TOTAL LIABILITIES
Total Short-Term Liabilities	$12.02M	$8.245M	$8.100M
Total Long-Term Liabilities	$13.82M	$13.66M	$1.300M
Total Liabilities	$25.85M	$21.91M	$10.30M
YoY Change	150.93%	142.9%	-2.83%
SHAREHOLDERS EQUITY
Retained Earnings	$27.47M	$24.41M
YoY Change		11.33%
Common Stock	$593.1K	$593.1K
YoY Change		0.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$32.30M	$29.80M	$29.06M
YoY Change
Total Liabilities & Shareholders Equity	$46.12M	$43.46M	$39.40M
YoY Change	17.06%	16.75%	2.07%

Cashflow Statement

Concept	2015 Q3	2015 Q1	2014 Q3
OPERATING ACTIVITIES
Net Income	$3.794M	-$856.0K	$1.818M
YoY Change	108.69%	-305.28%	298.68%
Depreciation, Depletion And Amortization	$190.0K	$200.0K	$220.0K
YoY Change	-13.64%	-4.76%	15.79%
Cash From Operating Activities	$530.0K	-$230.0K	$1.090M
YoY Change	-51.38%	-50.0%	-122.29%
INVESTING ACTIVITIES
Capital Expenditures	$293.9K	$970.0K	$1.278M
YoY Change	-77.0%	-196.04%	-3295.52%
Acquisitions
YoY Change
Other Investing Activities	-$800.0K	-$940.0K	-$3.540M
YoY Change	-77.4%	-35.62%
Cash From Investing Activities	-$1.090M	$30.00K	-$4.810M
YoY Change	-77.34%	-101.21%	11925.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-3.600M	5.030M	400.0K
YoY Change	-1000.0%	-3058.82%	-48.72%
NET CHANGE
Cash From Operating Activities	530.0K	-230.0K	1.090M
Cash From Investing Activities	-1.090M	30.00K	-4.810M
Cash From Financing Activities	-3.600M	5.030M	400.0K
Net Change In Cash	-4.160M	4.830M	-3.320M
YoY Change	25.3%	-255.81%	-20.0%
FREE CASH FLOW
Cash From Operating Activities	$530.0K	-$230.0K	$1.090M
Capital Expenditures	$293.9K	$970.0K	$1.278M
Free Cash Flow	$236.1K	-$1.200M	-$188.2K
YoY Change	-225.43%	-318.18%	-96.12%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
	airt	Change In Fair Value Of Marketable Securities ChangeInFairValueOfMarketableSecurities	-866430
	airt	Change In Fair Value Of Marketable Securities ChangeInFairValueOfMarketableSecurities	-138653
	airt	Ground Support Expenses GroundSupportExpenses	9778457
	airt	Ground Support Expenses GroundSupportExpenses	7793967
	airt	Adjustments To Additional Paidin Capital Repurchase Of Stock Options AdjustmentsToAdditionalPaidinCapitalRepurchaseOfStockOptions	-112935
CY2015Q3	airt	Flightair Cargo FlightairCargo	9399757
CY2014Q3	airt	Flightair Cargo FlightairCargo	5122074
	airt	Flightair Cargo FlightairCargo	15773666
	airt	Flightair Cargo FlightairCargo	10301666
CY2015Q3	airt	Ground Equipment Expense GroundEquipmentExpense	15471306
CY2014Q3	airt	Ground Equipment Expense GroundEquipmentExpense	13623323
	airt	Ground Equipment Expense GroundEquipmentExpense	18600420
	airt	Ground Equipment Expense GroundEquipmentExpense	17955093
CY2015Q3	airt	Ground Support Expenses GroundSupportExpenses	5062546
CY2014Q3	airt	Ground Support Expenses GroundSupportExpenses	3900182
CY2015Q3	airt	Ground Support Service Parts GroundSupportServiceParts	1378706
CY2015Q1	airt	Ground Support Service Parts GroundSupportServiceParts	938072
CY2015Q3	airt	Maintenanceair Cargo MaintenanceairCargo	5354574
CY2014Q3	airt	Maintenanceair Cargo MaintenanceairCargo	5497602
	airt	Maintenanceair Cargo MaintenanceairCargo	10562738
	airt	Maintenanceair Cargo MaintenanceairCargo	10509993
	airt	Repurchase Of Stock Options RepurchaseOfStockOptions	0
	airt	Repurchase Of Stock Options RepurchaseOfStockOptions	112935
CY2015Q3	us-gaap	Accounts Notes And Loans Receivable Net Current AccountsNotesAndLoansReceivableNetCurrent	705332
CY2015Q1	us-gaap	Accounts Notes And Loans Receivable Net Current AccountsNotesAndLoansReceivableNetCurrent	816606
CY2015Q3	us-gaap	Accounts Payable Current AccountsPayableCurrent	7733548
CY2015Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	4715709
CY2015Q3	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	17880978
CY2015Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	9534563
CY2015Q3	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	903014
CY2015Q1	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent
CY2015Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	3387695
CY2015Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	3529451
CY2015Q3	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-689428
CY2015Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-134913
CY2015Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	4929090
CY2015Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	4929090
	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	8958
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	0
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	10479
CY2015Q3	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	202000
CY2015Q1	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	222000
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0
CY2015Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0
CY2014Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0
	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--03-31
CY2015Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	2372527
	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
	dei	Trading Symbol TradingSymbol	airt
	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2015Q3	us-gaap	Assets Assets	46120525
CY2015Q1	us-gaap	Assets Assets	43456382
CY2015Q3	us-gaap	Assets Current AssetsCurrent	35875065
CY2015Q1	us-gaap	Assets Current AssetsCurrent	38670023
CY2015Q3	us-gaap	Available For Sale Securities Amortized Cost AvailableForSaleSecuritiesAmortizedCost	7353000
CY2015Q1	us-gaap	Available For Sale Securities Amortized Cost AvailableForSaleSecuritiesAmortizedCost	5490000
	us-gaap	Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	73000
CY2015Q1	us-gaap	Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	35000
	us-gaap	Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAggregateLosses	1052000
CY2015Q1	us-gaap	Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAggregateLosses	176000
CY2015Q3	us-gaap	Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue	4888000
CY2015Q1	us-gaap	Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue	4168000
CY2015Q3	us-gaap	Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue	1216000
CY2015Q1	us-gaap	Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue	1111000
	us-gaap	Available For Sale Securities Gross Unrealized Gains AvailableForSaleSecuritiesGrossUnrealizedGains	48000
CY2015	us-gaap	Available For Sale Securities Gross Unrealized Gains AvailableForSaleSecuritiesGrossUnrealizedGains	0
	us-gaap	Available For Sale Securities Gross Unrealized Loss AvailableForSaleSecuritiesGrossUnrealizedLoss	1125000
CY2015	us-gaap	Available For Sale Securities Gross Unrealized Loss AvailableForSaleSecuritiesGrossUnrealizedLoss	211000
CY2015Q3	us-gaap	Available For Sale Securities Noncurrent AvailableForSaleSecuritiesNoncurrent	4136127
CY2015Q1	us-gaap	Available For Sale Securities Noncurrent AvailableForSaleSecuritiesNoncurrent
CY2015Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	14165120
CY2014Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	3758888
CY2015Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	4207862
CY2014Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	209192
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-9957258
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-3549696
CY2015Q3	us-gaap	Cash Surrender Value Of Life Insurance CashSurrenderValueOfLifeInsurance	2005246
CY2015Q1	us-gaap	Cash Surrender Value Of Life Insurance CashSurrenderValueOfLifeInsurance	1990671
CY2015Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.25
CY2015Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.25
CY2015Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	4000000
CY2015Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	4000000
CY2015Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	2372527
CY2015Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	2372527
CY2015Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	2372527
CY2015Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	2372527
CY2015Q3	us-gaap	Common Stock Value CommonStockValue	593131
CY2015Q1	us-gaap	Common Stock Value CommonStockValue	593131
CY2015Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	3520596
CY2014Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	1787162
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	2503405
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	1808416
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	3212440
CY2015Q3	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	589915
CY2015Q1	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	278000
CY2015Q3	us-gaap	Deferred Tax Liabilities Noncurrent DeferredTaxLiabilitiesNoncurrent	416000
CY2015Q1	us-gaap	Deferred Tax Liabilities Noncurrent DeferredTaxLiabilitiesNoncurrent	416000
CY2015Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	192504
CY2014Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	222631
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	371121
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	439171
CY2015Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.60
CY2014Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.77
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.29
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.80
CY2015Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.58
CY2014Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.77
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.28
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.80
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.3
	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.34
CY2015Q3	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	-10405
CY2014Q3	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	86067
	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	-5381
	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	273861
CY2015Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3658187
CY2014Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3748359
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	7465115
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	6981788
CY2015Q3	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	5494960
CY2014Q3	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	2584506
	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	4425920
	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	2695303
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1368000
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	804200
CY2015Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1701000
CY2014Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	766200
	us-gaap	Income Taxes Paid IncomeTaxesPaid	267134
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-3638530
	us-gaap	Income Taxes Paid IncomeTaxesPaid	804200
CY2015Q3	us-gaap	Income Taxes Receivable IncomeTaxesReceivable
CY2015Q1	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	195000
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	3017840
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-797292
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	8327227
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	6508320
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-58762
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	34710
	us-gaap	Increase Decrease In Income Taxes Receivable IncreaseDecreaseInIncomeTaxesReceivable	-1098013
	us-gaap	Increase Decrease In Income Taxes Receivable IncreaseDecreaseInIncomeTaxesReceivable	-777735
	us-gaap	Increase Decrease In Insurance Assets IncreaseDecreaseInInsuranceAssets	14575
	us-gaap	Increase Decrease In Insurance Assets IncreaseDecreaseInInsuranceAssets	5246
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-2357891
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-4191199
	us-gaap	Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve	-61616
	us-gaap	Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve	-275203
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	7038927
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	2467553
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-115057
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-210050
	us-gaap	Increase Decrease In Receivables IncreaseDecreaseInReceivables	-111274
	us-gaap	Increase Decrease In Receivables IncreaseDecreaseInReceivables	-443227
	us-gaap	Interest Paid InterestPaid	45118
	us-gaap	Interest Paid InterestPaid	16280
CY2015Q3	us-gaap	Inventory Finished Goods InventoryFinishedGoods	3646024
CY2015Q1	us-gaap	Inventory Finished Goods InventoryFinishedGoods	3045761
CY2015Q3	us-gaap	Inventory Gross InventoryGross	10171587
CY2015Q1	us-gaap	Inventory Gross InventoryGross	8102782
CY2015Q3	us-gaap	Inventory Net InventoryNet	9900883
CY2015Q1	us-gaap	Inventory Net InventoryNet	7789649
CY2015Q3	us-gaap	Inventory Raw Materials InventoryRawMaterials	3434880
CY2015Q1	us-gaap	Inventory Raw Materials InventoryRawMaterials	2583797
CY2015Q3	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	270704
CY2015Q1	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	313133
CY2015Q3	us-gaap	Inventory Work In Process InventoryWorkInProcess	1711977
CY2015Q1	us-gaap	Inventory Work In Process InventoryWorkInProcess	1535152
CY2015Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	46120525
CY2015Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	43456382
CY2015Q3	us-gaap	Liabilities Current LiabilitiesCurrent	12024257
CY2015Q1	us-gaap	Liabilities Current LiabilitiesCurrent	8245160
CY2015Q3	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	13821897
CY2015Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	13661160
CY2015Q3	us-gaap	Long Term Line Of Credit LongTermLineOfCredit	1381640
CY2015Q1	us-gaap	Long Term Line Of Credit LongTermLineOfCredit	5000000
CY2015Q3	us-gaap	Marketable Securities MarketableSecurities	6276000
CY2015Q1	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	5278752
CY2015Q3	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	2139815
	us-gaap	Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments	0
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-3981007
CY2015Q3	us-gaap	Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments	0
	us-gaap	Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments	8410
	us-gaap	Net Income Loss NetIncomeLoss	1891103
CY2014Q3	us-gaap	Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments	0
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-3618360
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1217953
CY2015Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	224188
CY2015Q3	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
CY2014Q3	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent	8410
CY2015Q3	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
CY2014Q3	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-576450
CY2015Q3	us-gaap	Net Income Loss NetIncomeLoss	3793960
CY2014Q3	us-gaap	Net Income Loss NetIncomeLoss	1818306
	us-gaap	Net Income Loss NetIncomeLoss	3057920
	us-gaap	Noncash Or Part Noncash Acquisition Fixed Assets Acquired1 NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1	1143635
	us-gaap	Noncash Or Part Noncash Acquisition Fixed Assets Acquired1 NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1	1132115
CY2015Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-9690
CY2014Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-12116
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-29631
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-143
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	3
CY2015Q3	us-gaap	Operating Expenses OperatingExpenses	39149278
CY2014Q3	us-gaap	Operating Expenses OperatingExpenses	32028104
	us-gaap	Operating Expenses OperatingExpenses	62556898
	us-gaap	Operating Expenses OperatingExpenses	53707817
CY2015Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	5504651
CY2014Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	2596622
	us-gaap	Operating Income Loss OperatingIncomeLoss	4455551
	us-gaap	Operating Income Loss OperatingIncomeLoss	2695446
CY2015Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	271183
	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	5341
CY2015Q3	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
CY2014Q3	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax	3069
CY2015Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-273364
CY2014Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-31144
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-554515
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-82687
	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-82687
	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-554515
CY2015Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax	-427132
CY2014Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax	-47700
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax	-866430
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax	-138653
CY2015Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-273364
CY2014Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-31144
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-554515
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-88028
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	50625
CY2015Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-9690
CY2014Q3	us-gaap	Revenues Revenues	34624726
	us-gaap	Revenues Revenues	67012449
	us-gaap	Revenues Revenues	56403263
CY2015Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	153768
CY2014Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	16556
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	311915
CY2014Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-12116
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-29631
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-8553
	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	1863621
	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	3973218
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	513433
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1553223
CY2015Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	293937
CY2014Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1278207
CY2015Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	1
CY2015Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	1
CY2015Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000
CY2015Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000
CY2015Q3	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2015Q1	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2015Q3	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	450280
CY2015Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	612334
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	14291273
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	1330888
	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	0
	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	511571
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	19163
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	823671
	us-gaap	Product Warranty Accrual Period Increase Decrease ProductWarrantyAccrualPeriodIncreaseDecrease	82995
	us-gaap	Product Warranty Accrual Period Increase Decrease ProductWarrantyAccrualPeriodIncreaseDecrease	151600
CY2015Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3832902
CY2015Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2571499
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	17909633
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit
CY2015Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	27465835
CY2015Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	24407915
CY2015Q3	us-gaap	Revenues Revenues	44653929
CY2015Q1	us-gaap	Secured Long Term Debt SecuredLongTermDebt	7000000
	us-gaap	Share Based Compensation ShareBasedCompensation	0
	us-gaap	Share Based Compensation ShareBasedCompensation	8958
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	17500
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	0
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	0
CY2015Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	0
CY2014Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	0
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	0
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	0
CY2015Q3	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	0
CY2014Q3	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	0
CY2015Q3	us-gaap	Stockholders Equity StockholdersEquity	32298628
CY2015Q1	us-gaap	Stockholders Equity StockholdersEquity	29795223
CY2014Q1	us-gaap	Stockholders Equity StockholdersEquity	27360058
CY2014Q3	us-gaap	Stockholders Equity StockholdersEquity	29064497
CY2015Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	2397163
CY2014Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	2375398
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	2396460
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	2375660
CY2015Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	2372527
CY2014Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	2355028
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	2372527
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	2355028

Files In Submission

Name	View Source	Status
0001437749-15-019930-index-headers.html	Edgar Link	pending
0001437749-15-019930-index.html	Edgar Link	pending
0001437749-15-019930.txt	Edgar Link	pending
0001437749-15-019930-xbrl.zip	Edgar Link	pending
airt-20150930.xml	Edgar Link	completed
airt-20150930.xsd	Edgar Link	pending
airt-20150930_cal.xml	Edgar Link	unprocessable
airt-20150930_def.xml	Edgar Link	unprocessable
airt-20150930_lab.xml	Edgar Link	unprocessable
airt-20150930_pre.xml	Edgar Link	unprocessable
airt20150930_10q.htm	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
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R25.htm	Edgar Link	pending
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R28.htm	Edgar Link	pending
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R3.htm	Edgar Link	pending
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R31.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$AIRT
AIR T INC Stock $airt

2015 Q3 Form 10-Q Financial Statement

#000143774915019930 Filed on November 06, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AIRT AIR T INC Stock $airt

2015 Q3 Form 10-Q Financial Statement

#000143774915019930 Filed on November 06, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AIRT
AIR T INC Stock $airt