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Last $20.15 USD
Change Today -0.23 / -1.13%
Volume 491.0
AIRT On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

air t inc (AIRT) Snapshot

Open
$20.23
Previous Close
$20.38
Day High
$20.23
Day Low
$20.15
52 Week High
12/16/14 - $27.34
52 Week Low
08/15/14 - $10.68
Market Cap
47.8M
Average Volume 10 Days
3.2K
EPS TTM
$1.30
Shares Outstanding
2.4M
EX-Date
05/14/14
P/E TM
15.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for AIR T INC (AIRT)

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air t inc (AIRT) Details

Air T, Inc., through its subsidiaries, provides overnight air cargo, ground equipment sales, and ground support services in the United States and internationally. Its Overnight Air Cargo segment offers small package overnight airfreight delivery services on a contract basis to the air express delivery services industry. As of March 31, 2014, this segment had approximately 80 aircraft under agreement with FedEx in the United States and the Caribbean. The company’s Ground Equipment Sales segment manufactures, sells, and services aircraft ground support and other specialized equipment, including aircraft deicers, scissor-type lifts, military and civilian decontamination units, flight-line tow tractors, glycol recovery vehicles, and other special purpose mobile equipment. This segment offers its products to passenger and cargo airlines, ground handling companies, the United States Air Force, airports, and industrial customers. Its Ground Support Services segment provides aircraft ground support equipment, fleet, and facility maintenance services to airlines and aviation service providers. Air T, Inc. was founded in 1980 and is based in Maiden, North Carolina.

576 Employees
Last Reported Date: 06/2/14
Founded in 1980

air t inc (AIRT) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: --
Executive Vice President
Total Annual Compensation: $257.1K
Compensation as of Fiscal Year 2014.

air t inc (AIRT) Key Developments

Air T, Inc., Mountain Air Cargo, Inc., Global Ground Support, LLC, CSA Air, Inc. and Global Aviation Services, LLC Enters into Credit Agreement

On April 1, 2015, Air T, Inc. entered into a Credit Agreement dated as of April 1, 2015 among the company and Mountain Air Cargo, Inc., Global Ground Support, LLC, CSA Air, Inc. and Global Aviation Services, LLC, as borrowers, and Branch Banking and Trust Company, as lender. The Credit Agreement provides for a two-year, senior secured revolving credit facility of $20.0 million, with a sublimit for issuances of letters of credit of up to $500,000. The Credit Agreement became effective on April 1, 2015. Initially, borrowings under the Revolving Credit Facility bear interest (payable monthly) at an annual rate of one-month LIBOR plus 1.50%, although the interest rates under the Revolving Credit Facility are subject to incremental increases based on a consolidated leverage ratio. In addition, a commitment fee accrues with respect to the unused amount of the Revolving Credit Facility at an annual rate of 0.15%. Amounts applied to repay borrowings under the Revolving Credit Facility may be reborrowed, subject to the terms of the facility. The Revolving Credit Facility matures on April 1, 2017. Borrowings under the Revolving Credit Facility, together with hedging obligations owing to the lender under the Revolving Credit Facility or any affiliate of such lender, are secured by a first-priority security interest in substantially all assets of the company and the other borrowers, but excluding interests in real property. The Credit Agreement contains affirmative and negative covenants, including covenants that restrict the ability of the company and the other borrowers to, among other things, incur or guarantee indebtedness, incur liens, dispose of assets, engage in mergers and consolidations, make acquisitions or other investments, make changes in the nature of their business, enter into certain operating leases, and make certain capital expenditures. The Credit Agreement also contains financial covenants, including a minimum consolidated tangible net worth of $22.0 million, a minimum consolidated fixed charge coverage ratio of 1.35 to 1.0, a minimum consolidated asset coverage ratio of 1.75 to 1.0, and a maximum consolidated leverage ratio of 3.5 to 1.0.

Air T Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014

Air T Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, the company reported consolidated net earnings of $1,448,000 or $0.61 per diluted share compared to consolidated net earnings of $455,000 or $0.19 per diluted share for the similar fiscal 2014 comparable period. Consolidated revenue increased $1,058,000 (4%) to $30,893,000 for the quarter ended December 31, 2014 compared to the comparable quarter in the prior fiscal year. Consolidated operating income increased $1,345,000 (169%) for the quarter ended December 31, 2014 compared to the comparable quarter in the prior fiscal year. The increase in consolidated operating income from the prior year quarter includes a gain on sale of assets for the current year quarter of $781,000 compared to $25,000 in the prior year quarter. For the nine months, the company reported operating revenues of $87,296,000 against $75,305,000 a year ago. Net earnings were $3,340,000 or $1.41 per diluted share against $1,050,000 or $0.43 per diluted share a year ago.

Air T Inc. to Report Q3, 2015 Results on Feb 03, 2015

Air T Inc. announced that they will report Q3, 2015 results at 5:00 PM, Eastern Standard Time on Feb 03, 2015

 

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Industry Analysis

AIRT

Industry Average

Valuation AIRT Industry Range
Price/Earnings 12.9x
Price/Sales 0.4x
Price/Book 1.6x
Price/Cash Flow 10.4x
TEV/Sales 0.3x
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