Revenue Update on Air T(NASDAQ:AIRT)

Air T(NASDAQ:AIRT) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Jun 29, 2016. Earnings per share were $-0.46.

Air T (AIRT) shares turned negative on Fridays trading session with the shares closing down -0.4096 points or -1.91% at a volume of 18,229. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $22.5623. The peak price level was also seen at $22.5623 while the days lowest was $20.04. Finally the shares closed at $21.0904. The 52-week high of the shares is $28 while the 52-week low is $16.49. According to the latest information available, the market cap of the company is $50 M.

Several Insider Transactions has been reported to the SEC. On Mar 24, 2016, Seth G Barkett (director) purchased 100 shares at $25.36 per share price.Also, On Feb 11, 2016, Gary S Kohler (director) purchased 5,300 shares at $21.86 per share price.

Air T Inc. operates wholly owned subsidiaries in three industry segments. The overnight air cargo segment consists of its Mountain Air Cargo Inc. (MAC) and CSA Air Inc. (CSA) subsidiaries operates in the air express delivery services industry. The ground equipment sales segment consists of its Global Ground Support LLC (GGS) subsidiary manufactures and provides mobile deicers to passenger and cargo airlines airports the military and industrial customers. The ground support services segment consist of its Global Aviation Services LLC (GAS) subsidiary provides ground support equipment maintenance and facilities services to domestic airlines and aviation service providers. During the fiscal year 2014 the Company’s overnight air cargo segment accounted for 52% the ground equipment sales segment accounted for 31% and the ground support services segment accounted for 17% of consolidated revenues. The Company’s overnight air cargo services are provided to FedEx Corporation.

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