ACCESSWIRE
13 Nov 2019, 09:19 GMT+10
DENVER, NC / ACCESSWIRE / November 12, 2019 / Air T, Inc. (NASDAQ:AIRT) is organized as a portfolio of powerful businesses, each of which is independent yet interrelated. These include overnight air cargo operations; ground support equipment manufacturing; and commercial aircraft management, leasing and logistics. Today the Company announced results for its fiscal quarter ended September 30, 2019.
Q2 2020 Overview
Nick Swenson said, 'If we build successful businesses, their value will be reflected in our share price. The $20.5 million cash burst to AIRT from the sale of GAS certainly evidences this idea. We are a public company with a solid balance sheet and the freedom of time. Highly capable managers appreciate this strong framework upon which they can build total business value. We attract strong managers and their teams because we make space for dynamos and the patience to allow for their (sometimes) non-linear development. Remember that GAS was the creation of one executive and his highly capable team.'
Business Segment Results
Commercial Jet Engines and Parts
Overnight Air Cargo
Aviation Ground Support Equipment
Corporate
Other Investments and Financial Liquidity
ABOUT AIR T, INC.
Established in 1980, Air T Inc. is a portfolio of powerful businesses and financial assets, each of which is independent yet interrelated. Its core segments are: overnight air cargo, aviation ground support equipment manufacturing, and commercial aircraft asset management and logistics. We seek to expand, strengthen and diversify Air T's after-tax cash flow per share. Our goal is to build Air T's core businesses, and when appropriate, to expand into adjacent and other industries. We seek to activate growth and overcome challenges while delivering meaningful value for all stakeholders. For more information, visit www.airt.net.
FORWARD-LOOKING STATEMENTS
Certain matters discussed in this press release may be considered forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These forward-looking statements are subject to risks, uncertainties and assumptions about our operations and the investments we make, including, among other things, factors discussed under the heading 'Risk Factors' in our 10-K, as well as the following:
Forward-looking statements can be identified by the use of words like 'believes,' 'could,' 'possibly,' 'probably,' 'anticipates,' 'estimates,' 'projects,' 'expects,' 'may,' 'will,' 'should,' 'seek,' 'intend,' 'plan,' 'expect,' or 'consider' or the negative of these expressions or other variations, or by discussions of strategy that involves risks and uncertainties. All forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual transactions, results, performance or achievements to be materially different from any future transactions, results, performance or achievements expressed or implied by such forward-looking statements. We base these forward-looking statements on current expectations and projections about future events and the information currently available to us. Although we believe that the assumptions for these forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Consequently, no representation or warranty can be given that the estimates, opinions, or assumptions made in or referenced by this prospectus will prove to be accurate. We undertake no obligation to update our forward-looking statements. We caution you that the forward-looking statements in this press release are only estimates and predictions, or statements or current intent. Actual results or outcomes, or actions that we ultimately undertake, could differ materially from those anticipated in the forward-looking statements due to risks, uncertainties or actual events differing from the assumptions underlying these statements. These risks, uncertainties and assumptions include, but are not limited to, those discussed in this press release.
CONTACT
Air T, Inc.
Brian Ochocki, CFO
bochocki@airt.net
612-843-4302
SOURCE: Air T, Inc.
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