AIR T Inc income statement
In fiscal 2026, AIR T Inc reported revenue of $327m, up 12.1% on the year before, operating income of −$11.2m (a -3.4% margin) and net income of $78.0m, or $28.85 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2011Mar 2011 | 2012Mar 2012 | 2013Mar 2013 | 2014Mar 2014 | 2015Mar 2015 | 2016Mar 2016 | 2017Mar 2017 | 2018Mar 2018 | 2019Mar 2019 | 2020Mar 2020 | 2021Mar 2021 | 2022Mar 2022 | 2023Mar 2023 | 2024Mar 2024 | 2025Mar 2025 | 2026Mar 2026 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 83 | 89 | 103 | 101 | 112 | 148 | 148 | 195 | 216 | 237 | 175 | 177 | 247 | 287 | 292 | 327 | 372 |
| Research and development | — | — | — | — | 0 | 1 | 1 | 0 | — | — | — | — | — | — | — | — | — |
| General and administrative | 11 | 11 | 11 | 13 | 14 | 18 | 22 | 29 | 34 | 40 | 34 | 30 | 43 | 51 | 58 | 81 | 95 |
| Operating income | 3 | 2 | 3 | 3 | 3 | 6 | −3 | 4 | 9 | 7 | −9 | 9 | −4 | 1 | 2 | −11 | −25 |
| Interest expense | 0 | 0 | — | — | — | 0 | — | 2 | 3 | 5 | 5 | 5 | 8 | 7 | 8 | 12 | 15 |
| Income before tax | — | — | — | — | 3 | 6 | −4 | 3 | 6 | 3 | −12 | 13 | −11 | −4 | −5 | 86 | 72 |
| Income tax | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 0 | 2 | −1 | −3 | 1 | 0 | 1 | 0 | 1 | 2 |
| Net income | 2 | 1 | 2 | 1 | 2 | 4 | −3 | 2 | 1 | 8 | −7 | 11 | −12 | −7 | −6 | 78 | 64 |
| Diluted EPS | $0.58 | $0.37 | $0.45 | $0.40 | $0.69 | $1.23 | −$1.01 | $0.74 | $0.44 | $2.73 | −$2.53 | $3.78 | −$4.32 | −$2.42 | −$2.23 | $28.85 | $23.62 |
| Diluted shares (average) | 4m | 4m | 4m | 4m | 4m | 4m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m |
| EBITDA | 4 | 2 | 3 | 3 | 4 | 7 | 0 | 7 | 17 | 13 | −6 | 11 | −0 | 4 | 6 | 1 | −4 |
| Quarter | 2025 Q2Sept 2024 | 2025 Q3Dec 2024 | 2025 Q4Mar 2025 | 2026 Q1Jun 2025 | 2026 Q2Sept 2025 | 2026 Q3Dec 2025 | 2026 Q4Mar 2026 | 2027 Q1Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 81 | 78 | 66 | 71 | 64 | 71 | 121 | 115 |
| General and administrative | 14 | 14 | 15 | 15 | 18 | 17 | 31 | 30 |
| Operating income | 4 | 1 | −3 | 1 | 6 | −4 | −14 | −13 |
| Interest expense | 2 | 3 | 2 | 2 | 2 | 2 | 5 | 6 |
| Income before tax | 3 | −1 | −7 | −1 | 7 | −2 | 81 | −15 |
| Income tax | 0 | 0 | −0 | −0 | 2 | 0 | −1 | 1 |
| Net income | 3 | −1 | −7 | −2 | 4 | −2 | 78 | −16 |
| Diluted EPS | $0.91 | −$0.47 | −$2.55 | −$0.61 | $1.61 | −$0.91 | $28.75 | −$5.86 |
| EBITDA | 5 | 3 | −1 | 2 | 6 | −2 | −5 | −3 |
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