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10-Q Filing

AIR T INC CIK: 353184 Q3 2013
Filing Information
Form Type 10-Q
Accession Number 0000353184-13-000003
Period End Date 20121231
Filing Date 20130201
Fiscal Year 2013
Fiscal Period Q3
XBRL Instance airt-20121231.xml
Filing Contents
Balance Sheet 61 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts (in Dollars) (in Dollars) AllowanceForDoubtfulAccountsReceivableCurrent $94.00K USD Point-in-time
Allowance for doubtful accounts (in Dollars) (in Dollars) AllowanceForDoubtfulAccountsReceivableCurrent $108.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $5.81M USD Point-in-time
Preferred stock par value (in Dollars per share) (in Dollars per share) PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.52M USD Point-in-time
Preferred stock par value (in Dollars per share) (in Dollars per share) PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.86M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $9.54M USD Point-in-time
Preferred stock, shares authorized (in Shares) PreferredStockSharesAuthorized 50,000.00 shares Point-in-time
Preferred stock, shares authorized (in Shares) PreferredStockSharesAuthorized 50,000.00 shares Point-in-time
Accounts receivable, less allowance for doubtful accounts of $94,000 and $108,000 AccountsReceivableNetCurrent $8.52M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $94,000 and $108,000 AccountsReceivableNetCurrent $8.95M USD Point-in-time
Common stock, par value (in Dollars per share) (in Dollars per share) CommonStockParOrStatedValuePerShare $0.25 USD Point-in-time
Common stock, par value (in Dollars per share) (in Dollars per share) CommonStockParOrStatedValuePerShare $0.25 USD Point-in-time
Notes and other receivables-current AccountsNotesAndLoansReceivableNetCurrent $64.25K USD Point-in-time
Notes and other receivables-current AccountsNotesAndLoansReceivableNetCurrent $46.89K USD Point-in-time
Income tax receivable IncomeTaxesReceivable $642.00K USD Point-in-time
Common stock, shares authorized (in Shares) CommonStockSharesAuthorized 4.00M shares Point-in-time
Income tax receivable IncomeTaxesReceivable $5.80K USD Point-in-time
Common stock, shares authorized (in Shares) CommonStockSharesAuthorized 4.00M shares Point-in-time
Inventories InventoryNet $13.44M USD Point-in-time
Inventories InventoryNet $14.54M USD Point-in-time
Common stock, shares issued (in Shares) CommonStockSharesIssued 2.45M shares Point-in-time
Common stock, shares issued (in Shares) CommonStockSharesIssued 2.45M shares Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $430.00K USD Point-in-time
Common stock, shares outstanding (in Shares) CommonStockSharesOutstanding 2.45M shares Point-in-time
Common stock, shares outstanding (in Shares) CommonStockSharesOutstanding 2.45M shares Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $430.00K USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssets $761.02K USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssets $527.71K USD Point-in-time
Total Current Assets AssetsCurrent $31.21M USD Point-in-time
Total Current Assets AssetsCurrent $32.50M USD Point-in-time
Property and Equipment, net PropertyPlantAndEquipmentNet $1.86M USD Point-in-time
Property and Equipment, net PropertyPlantAndEquipmentNet $1.89M USD Point-in-time
Cash Surrender Value of Life Insurance Policies CashSurrenderValueOfLifeInsurance $1.73M USD Point-in-time
Cash Surrender Value of Life Insurance Policies CashSurrenderValueOfLifeInsurance $1.68M USD Point-in-time
Notes and Other Receivables-Long Term NotesAndLoansReceivableNetNoncurrent $191.50K USD Point-in-time
Other Assets OtherAssetsNoncurrent $111.14K USD Point-in-time
Other Assets OtherAssetsNoncurrent $112.17K USD Point-in-time
Total Assets Assets $36.21M USD Point-in-time
Total Assets Assets $35.08M USD Point-in-time
Accounts payable AccountsPayableCurrent $5.81M USD Point-in-time
Accounts payable AccountsPayableCurrent $6.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $1.97M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $2.61M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $7.97M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $8.42M USD Point-in-time
Deferred Income Taxes DeferredTaxLiabilitiesNoncurrent $64.00K USD Point-in-time
Deferred Income Taxes DeferredTaxLiabilitiesNoncurrent $64.00K USD Point-in-time
Common stock, $.25 par value; 4,000,000 shares authorized, 2,446,286 shares issued and outstanding CommonStockValue $611.57K USD Point-in-time
Common stock, $.25 par value; 4,000,000 shares authorized, 2,446,286 shares issued and outstanding CommonStockValue $611.57K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $6.31M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $6.32M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $20.13M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $20.80M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $27.73M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $27.09M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $26.24M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $27.05M USD Point-in-time
Total Liabilities and Stockholders Equity LiabilitiesAndStockholdersEquity $36.21M USD Point-in-time
Total Liabilities and Stockholders Equity LiabilitiesAndStockholdersEquity $35.08M USD Point-in-time
Income Statement 86 line items
Line Item Tag Value Unit Period
Overnight air cargo CargoAndFreightRevenue $35.23M USD 3 Qtrs
Overnight air cargo CargoAndFreightRevenue $12.06M USD 1 Quarter
Overnight air cargo CargoAndFreightRevenue $35.20M USD 3 Qtrs
Overnight air cargo CargoAndFreightRevenue $12.42M USD 1 Quarter
Ground equipment sales GroundEquipmentSales $26.29M USD 3 Qtrs
Ground equipment sales GroundEquipmentSales $10.94M USD 1 Quarter
Ground equipment sales GroundEquipmentSales $10.95M USD 1 Quarter
Ground equipment sales GroundEquipmentSales $27.77M USD 3 Qtrs
Ground support services GroundSupportServices $3.34M USD 1 Quarter
Ground support services GroundSupportServices $2.65M USD 1 Quarter
Ground support services GroundSupportServices $6.16M USD 3 Qtrs
Ground support services GroundSupportServices $9.38M USD 3 Qtrs
Revenues Revenues $25.65M USD 1 Quarter
Revenues Revenues $72.35M USD 3 Qtrs
Revenues Revenues $26.70M USD 1 Quarter
Revenues Revenues $67.67M USD 3 Qtrs
Flight-air cargo FlightairCargo $14.37M USD 3 Qtrs
Flight-air cargo FlightairCargo $5.14M USD 1 Quarter
Flight-air cargo FlightairCargo $4.95M USD 1 Quarter
Flight-air cargo FlightairCargo $14.54M USD 3 Qtrs
Maintenance-air cargo MaintenanceairCargo $15.70M USD 3 Qtrs
Maintenance-air cargo MaintenanceairCargo $5.53M USD 1 Quarter
Maintenance-air cargo MaintenanceairCargo $5.67M USD 1 Quarter
Maintenance-air cargo MaintenanceairCargo $15.78M USD 3 Qtrs
Ground equipment sales GroundEquipmentExpense $9.34M USD 1 Quarter
Ground equipment sales GroundEquipmentExpense $9.53M USD 1 Quarter
Ground equipment sales GroundEquipmentExpense $22.99M USD 3 Qtrs
Ground equipment sales GroundEquipmentExpense $23.91M USD 3 Qtrs
Ground support services GroundSupportExpenses $4.20M USD 3 Qtrs
Ground support services GroundSupportExpenses $6.74M USD 3 Qtrs
Ground support services GroundSupportExpenses $1.78M USD 1 Quarter
Ground support services GroundSupportExpenses $2.22M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $2.88M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $9.16M USD 3 Qtrs
General and administrative GeneralAndAdministrativeExpense $8.07M USD 3 Qtrs
General and administrative GeneralAndAdministrativeExpense $3.24M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $74.99K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $312.84K USD 3 Qtrs
Depreciation and amortization DepreciationAndAmortization $191.70K USD 3 Qtrs
Depreciation and amortization DepreciationAndAmortization $105.13K USD 1 Quarter
OperatingExpenses OperatingExpenses $70.36M USD 3 Qtrs
OperatingExpenses OperatingExpenses $24.75M USD 1 Quarter
OperatingExpenses OperatingExpenses $25.72M USD 1 Quarter
OperatingExpenses OperatingExpenses $65.60M USD 3 Qtrs
Operating Income OperatingIncomeLoss $901.30K USD 1 Quarter
Operating Income OperatingIncomeLoss $2.07M USD 3 Qtrs
Operating Income OperatingIncomeLoss $1.99M USD 3 Qtrs
Operating Income OperatingIncomeLoss $986.54K USD 1 Quarter
Interest income, net InvestmentIncomeInterest $4.06K USD 3 Qtrs
Interest income, net InvestmentIncomeInterest $3.22K USD 1 Quarter
Interest income, net InvestmentIncomeInterest $27.36K USD 3 Qtrs
Interest income, net InvestmentIncomeInterest $5.42K USD 1 Quarter
NonoperatingIncomeExpense NonoperatingIncomeExpense $27.36K USD 3 Qtrs
NonoperatingIncomeExpense NonoperatingIncomeExpense $5.42K USD 1 Quarter
NonoperatingIncomeExpense NonoperatingIncomeExpense $3.22K USD 1 Quarter
NonoperatingIncomeExpense NonoperatingIncomeExpense $4.06K USD 3 Qtrs
Income Before Income Taxes IncomeLossFromContinuingOperations $989.76K USD 1 Quarter
Income Before Income Taxes IncomeLossFromContinuingOperations $2.10M USD 3 Qtrs
Income Before Income Taxes IncomeLossFromContinuingOperations $906.73K USD 1 Quarter
Income Before Income Taxes IncomeLossFromContinuingOperations $2.00M USD 3 Qtrs
Income Taxes IncomeTaxExpenseBenefit $357.00K USD 1 Quarter
Income Taxes IncomeTaxExpenseBenefit $328.00K USD 1 Quarter
Income Taxes IncomeTaxExpenseBenefit $718.00K USD 3 Qtrs
Income Taxes IncomeTaxExpenseBenefit $758.00K USD 3 Qtrs
Net Income NetIncomeLoss $1.34M USD 3 Qtrs
Net Income NetIncomeLoss $632.76K USD 1 Quarter
Net Income NetIncomeLoss $578.73K USD 1 Quarter
Net Income NetIncomeLoss $1.28M USD 3 Qtrs
Basic (in Dollars per share) EarningsPerShareBasic $0.26 USD 1 Quarter
Basic (in Dollars per share) EarningsPerShareBasic $0.55 USD 3 Qtrs
Basic (in Dollars per share) EarningsPerShareBasic $0.24 USD 1 Quarter
Basic (in Dollars per share) EarningsPerShareBasic $0.52 USD 3 Qtrs
Diluted (in Dollars per share) EarningsPerShareDiluted $0.24 USD 1 Quarter
Diluted (in Dollars per share) EarningsPerShareDiluted $0.26 USD 1 Quarter
Diluted (in Dollars per share) EarningsPerShareDiluted $0.55 USD 3 Qtrs
Diluted (in Dollars per share) EarningsPerShareDiluted $0.52 USD 3 Qtrs
Dividends Declared Per Share (in Dollars per share) CommonStockDividendsPerShareDeclared $0.25 USD 3 Qtrs
Dividends Declared Per Share (in Dollars per share) CommonStockDividendsPerShareDeclared $0.25 USD 3 Qtrs
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 2.45M shares 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 2.45M shares 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 2.45M shares 3 Qtrs
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 2.44M shares 3 Qtrs
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 2.45M shares 3 Qtrs
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 2.45M shares 3 Qtrs
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 2.45M shares 1 Quarter
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 2.45M shares 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $1.34M USD 3 Qtrs
Net income NetIncomeLoss $632.76K USD 1 Quarter
Net income NetIncomeLoss $578.73K USD 1 Quarter
Net income NetIncomeLoss $1.28M USD 3 Qtrs
Loss (gain) on disposal of equipment GainLossOnDispositionOfAssets $-2.18K USD 3 Qtrs
Loss (gain) on disposal of equipment GainLossOnDispositionOfAssets $29.66K USD 3 Qtrs
Change in accounts receivable and inventory reserves IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve $-45.94K USD 3 Qtrs
Change in accounts receivable and inventory reserves IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve $19.29K USD 3 Qtrs
Depreciation and amortization DepreciationAndAmortization $74.99K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $312.84K USD 3 Qtrs
Depreciation and amortization DepreciationAndAmortization $191.70K USD 3 Qtrs
Depreciation and amortization DepreciationAndAmortization $105.13K USD 1 Quarter
Change in cash surrender value of life insurance IncreaseDecreaseInInsuranceAssets $51.00K USD 3 Qtrs
Change in cash surrender value of life insurance IncreaseDecreaseInInsuranceAssets $51.00K USD 3 Qtrs
Deferred income taxes DeferredIncomeTaxExpenseBenefit $116.00K USD 3 Qtrs
Warranty reserve ProductWarrantyAccrualPeriodIncreaseDecrease $153.49K USD 3 Qtrs
Warranty reserve ProductWarrantyAccrualPeriodIncreaseDecrease $361.76K USD 3 Qtrs
Compensation expense related to stock options ShareBasedCompensation $1.47K USD 3 Qtrs
Compensation expense related to stock options ShareBasedCompensation $7.00K USD 3 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $-748.25K USD 3 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $-450.28K USD 3 Qtrs
Notes receivable and other non-trade receivables IncreaseDecreaseInReceivables $-134.90K USD 3 Qtrs
Notes receivable and other non-trade receivables IncreaseDecreaseInReceivables $-208.87K USD 3 Qtrs
Inventories IncreaseDecreaseInInventories $46.55K USD 3 Qtrs
Inventories IncreaseDecreaseInInventories $-1.11M USD 3 Qtrs
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-234.34K USD 3 Qtrs
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $264.65K USD 3 Qtrs
Accounts payable IncreaseDecreaseInAccountsPayable $-190.90K USD 3 Qtrs
Accounts payable IncreaseDecreaseInAccountsPayable $-812.84K USD 3 Qtrs
Accrued expenses IncreaseDecreaseInAccruedLiabilities $487.21K USD 3 Qtrs
Accrued expenses IncreaseDecreaseInAccruedLiabilities $197.78K USD 3 Qtrs
Income taxes receivable/ payable IncreaseDecreaseInIncomeTaxesReceivable $-636.20K USD 3 Qtrs
Income taxes receivable/ payable IncreaseDecreaseInIncomeTaxesReceivable $430.84K USD 3 Qtrs
Total adjustments IncreaseDecreaseInOtherOperatingCapitalNet $-3.34M USD 3 Qtrs
Total adjustments IncreaseDecreaseInOtherOperatingCapitalNet $-162.25K USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $-4.62M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $-1.50M USD 3 Qtrs
Proceeds from sale of investments PaymentsForProceedsFromInvestments $-51.03K USD 3 Qtrs
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $292.51K USD 3 Qtrs
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $749.77K USD 3 Qtrs
Proceeds from sale of assets ProceedsFromSaleOfPropertyPlantAndEquipment $8.00K USD 3 Qtrs
Proceeds from sale of assets ProceedsFromSaleOfPropertyPlantAndEquipment $37.50K USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-661.24K USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-284.51K USD 3 Qtrs
Payment of cash dividend PaymentsOfDividends $611.57K USD 3 Qtrs
Payment of cash dividend PaymentsOfDividends $611.57K USD 3 Qtrs
Payment on capital leases RepaymentsOfLongTermCapitalLeaseObligations $8.27K USD 3 Qtrs
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $124.35K USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-611.57K USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-495.49K USD 3 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $345.12K USD 3 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $3.72M USD 3 Qtrs
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $5.81M USD Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $6.52M USD Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $6.86M USD Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $9.54M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $5.81M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $6.52M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $6.86M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $9.54M USD Point-in-time
Interest InterestPaid $17.00K USD 3 Qtrs
Interest InterestPaid $1.80K USD 3 Qtrs
Income taxes IncomeTaxesPaid $82.00K USD 3 Qtrs
Income taxes IncomeTaxesPaid $1.07M USD 3 Qtrs
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Balance Beginning StockholdersEquity $27.73M USD Point-in-time
Balance Beginning StockholdersEquity $27.09M USD Point-in-time
Balance Beginning StockholdersEquity $26.24M USD Point-in-time
Cash dividend per share CommonStockDividendsPerShareCashPaid $0.25 USD 3 Qtrs
Cash dividend per share CommonStockDividendsPerShareCashPaid $0.25 USD 3 Qtrs
Balance Beginning StockholdersEquity $27.05M USD Point-in-time
Balance Ending StockholdersEquity $27.73M USD Point-in-time
Balance Ending StockholdersEquity $27.09M USD Point-in-time
Balance Ending StockholdersEquity $26.24M USD Point-in-time
Balance Ending StockholdersEquity $27.05M USD Point-in-time
Net income NetIncomeLoss $1.34M USD 3 Qtrs
Net income NetIncomeLoss $632.76K USD 1 Quarter
Net income NetIncomeLoss $578.73K USD 1 Quarter
Net income NetIncomeLoss $1.28M USD 3 Qtrs
Cash dividend DividendsCash $611.57K USD 3 Qtrs
Cash dividend DividendsCash $611.57K USD 3 Qtrs
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $124.35K USD 3 Qtrs
Exercise of stock options (in Shares) StockIssuedDuringPeriodSharesStockOptionsExercised 15,000.00 shares 1 Quarter
Compensation expense related to stock options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $7.00K USD 3 Qtrs
Compensation expense related to stock options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $1.47K USD 3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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