| Company Name: | Air T, Inc. | | Ticker Symbol: | AIRT | | | WWW Address: | www.airt.net | | CEO: | Walter Clark | | No. of Employees: | 467 | | Common Issue Type: | CS | | Business Description: | The company through its operating subsidiaries, is an air cargo carrier in the overnight delivery of small package airfreight and a manufacturer and provider of aircraft ground support and specialized industrial equipment and services.
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| | | Industry Information: | TRANSPORTATION - Air Delivery & Freight Services [more like this] |
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| Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 9.67 |  -1.09 | 8.56 | 9.93 | 10.61 | 11.11 | 9.58 | 659695 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 23.4 | 2.4 | 0.68 | 1.81 | 0.30 | 6.4 | 3.4 | 11.71 - 5.33 |
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| KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 9.67 | $ | | PE Ratio - LTM | 6.4 | |
| Market Capitalisation | 23.4 | mil |
| Latest Shares Outstanding | 2.4 | mil |
| Earnings pS (EPS) | 1.81 | $ |
| Dividend pS (DPS) | 0.30 | ¢ |
| Dividend Yield | 3.4 | % |
| Dividend Payout Ratio | 17 | % |
| Revenue per Employee | 194,150 | $ |
| Effective Tax Rate | 37.4 | % |
| Float | 2.3 | mil |
| Float as % of Shares Outstanding | 93.9 | % |
| Foreign Sales | 0 | mil |
| Domestic Sales | 0 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 12.80 | % |
| Research & Devlopment (R&D) as % of Revenue | 0.00 | % |
| Gross Profit Margin | 86.7 | % |
| EBITDA Margin | 73.9 | % |
| Pre-Tax Profit Margin | 7.2 | % |
| Assets Turnover | 2.9 | % |
| Return on Assets (ROA) | 12.9 | % |
| Return on Equity (ROE) | 16.0 | % |
| Return on Capital Invested (ROCI) | 15.9 | % |
| Current Ratio | 4.5 | |
| Leverage Ratio (Assets/Equity) | 1.2 | |
| Interest Cover | 70.5 | |
| Total Debt/Equity (Gearing Ratio) | 0.00 | |
| LT Debt/Total Capital | 0.0 | % |
| Working Capital pS | 8.02 | $ |
| Cash pS | 1.16 | $ |
| Book-Value pS | 9.51 | $ |
| Tangible Book-Value pS | 9.51 | $ |
| Cash Flow pS | 1.69 | $ |
| Free Cash Flow pS | 0.53 | $ |
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| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 1.02 | |
| Price/Tangible Book Ratio | 1.02 | |
| Price/Cash Flow | 5.7 | |
| Price/Free Cash Flow | 18.2 | |
| P/E as % of Industry Group | 0.0 | % |
| P/E as % of Sector Segment | 12.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 05/21/2009 |
| Dividend Ex-Date | 06/02/2009 |
| Dividend Record Date | 06/04/2009 |
| Dividend Pay Date | 06/25/2009 |
| Dividend Amount | 330 |
| Type of Payment | Cash Payment |
| Dividend Rate | 0.33 |
| Current Dividend Yield | 3.4 |
| 5-Y Average Dividend Yield | 3.8 |
| Payout Ratio | 17.0 |
| 5-Y Average Payout Ratio | 17.0 |
|  | | Share price performance previous 3 years |
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 | | | Share price performance intraday |
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| PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | -2.9 | 97 | 987 | 9,607 |
| 4 Weeks | 11.11 | 9.12 | 10.61 | -8.9 | 90 | 536 | 10,720 |
| 13 Weeks | 11.71 | 8.71 | 8.85 | 9.3 | 103 | 240 | 15,391 |
| 26 Weeks | 11.71 | 7.55 | 8.30 | 16.5 | 95 | 198 | 25,189 |
| 52 Weeks | 11.71 | 5.33 | 5.65 | 71.1 | 125 | 152 | 38,176 |
| YTD | 11.71 | 5.59 | - | 64.7 | 136 | 156 | 35,003 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 10.10 | 9.86 | 9.91 | 8.93 | 8.17 | 0.68 | 0.79 |
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| GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | 5.01 | 58.0 | 6.96 |
| Income | 18.86 | 82.8 | 20.21 |
| Dividend | 0.00 | 0.0 | 7.97 |
| Capital Spending | -22.42 | NA | -6.63 |
| R&D | 0.00 | NA | 0.00 |
| Normalized Inc. | 18.37 | NA | 20.21 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | -15.8 | -16.1 | 15.6 |
| Earnings % | -26.2 | -35.9 | 28.7 |
| EPS % | -26.4 | -36.4 | 29.3 |
| EPS $ | -0.29 | -0.20 | 0.41 |
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| SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 60.31 |
| Current Ratio | 3.3 |
| Quick Ratio (Acid Test) | 1.9 |
| Liquidity Ratio (Cash) | 1.04 |
| Receivables Turnover | 9.6 |
| Average Collection Period | 38 |
| Working Capital/Equity | 81.3 |
| Working Capital pS | 7.30 |
| Cash-Flow pS | 1.99 |
| Free Cash-Flow pS | 2.44 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 6.72 |
| Financial Leverage Ratio (Assets/Equity) | 1.3 |
| Debt Ratio | 25.9 |
| Total Debt/Equity (Gearing Ratio) | 0.02 |
| LT Debt/Equity | 0.00 |
| LT Debt/Capital Invested | 0.1 |
| LT Debt/Total Liabilities | 0.3 |
| Interest Cover | 67.6 |
| Interest/Capital Invested | 0.48 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 2.16 |
| Tobin's Q Ratio | 0.80 |
| Current P/E Ratio - LTM | 6.40 |
| Enterprise Value (EV)/EBITDA | 0.37 |
| Enterprise Value (EV)/Free Cash Flow | 2.64 |
| Dividend Yield | 3.4 |
| Price/Tangible Book Ratio - LTM | 1.02 |
| Price/Book Ratio - LTM | 1.02 |
| Price/Cash Flow Ratio | 5.7 |
| Price/Free Cash Flow Ratio - LTM | 18.2 |
| Price/Sales Ratio | 0.28 |
| P/E Ratio (1 month ago) - LTM | 6.8 |
| P/E Ratio (26 weeks ago) - LTM | 4.6 |
| P/E Ratio (52 weeks ago) - LTM | 2.8 |
| 5-Y High P/E Ratio | 45.5 |
| 5-Y Low P/E Ratio | 2.9 |
| 5-Y Average P/E Ratio | 11.1 |
| Current P/E Ratio as % of 5-Y Average P/E | 57 |
| P/E as % of Industry Group | 0.0 |
| P/E as % of Sector Segment | 12.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 6.4 |
| PER SHARE FIGURES |
| LT Debt pS | 0.01 |
| Current Liabilities pS | 3.12 |
| Tangible Book Value pS - LTM | 9.51 |
| Book Value pS - LTM | 9.51 |
| Capital Invested pS | 8.98 |
| Cash pS - LTM | 1.16 |
| Cash Flow pS - LTM | 1.69 |
| Free Cash Flow pS - LTM | 0.53 |
| Earnings pS (EPS) | 1.81 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | 0.00 |
| Free Cash Flow Margin 5YEAR AVG | 0.00 |
| Net Profit Margin | 4.8 |
| Net Profit Margin - 5YEAR AVRG. | 3.7 |
| Equity Productivity | 0.00 |
| Return on Equity (ROE) | 20.1 |
| Return on Equity (ROE) - 5YEAR AVRG. | 17.5 |
| Capital Invested Productivity | 0.00 |
| Return on Capital Invested (ROCI) | 20.1 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 16.9 |
| Assets Productivity | 3.20 |
| Return on Assets (ROA) | 14.9 |
| Return on Assets (ROA) - 5YEAR AVRG. | 11.2 |
| Gross Profit Margin | 86.7 |
| Gross Profit Margin - 5YEAR AVRG. | 33.6 |
| EBITDA Margin - LTM | 73.9 |
| EBIT Margin - LTM | 7.3 |
| Pre-Tax Profit Margin | 7.7 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 5.9 |
| Effective Tax Rate | 37.4 |
| Effective Tax Rate - 5YEAR AVRG. | 36.0 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 217 |
| Revenue per Employee | 194,150 |
| Net Income per Employee | 9,377 |
| Average Collection Period | 26 |
| Receivables Turnover | 9.6 |
| Day's Inventory Turnover Ratio | 191 |
| Inventory Turnover | 1.9 |
| Inventory/Sales | 10.8 |
| Accounts Payble/Sales | 0.00 |
| Assets/Revenue | 0.31 |
| Net Working Capital Turnover | 0.00 |
| Fixed Assets Turnover | 0.00 |
| Total Assets Turnover | 3.2 |
| Revenue per $ Cash | 13.23 |
| Revenue per $ Plant | 56.39 |
| Revenue per $ Common Equity | 4.17 |
| Revenue per $ Capital Invested | 4.16 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 12.4 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 12.7 |
| Research & Devlopment (R&D) as % of Revenue | 0.0 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 0.0 |
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