Air T Reports Unaudited Q3 EPS of $.24

Air T, Inc. AIRT today reported consolidated net earnings of $599,000 ($0.24 per diluted share) for fiscal 2011's third quarter ended December 31, 2010, compared to consolidated net earnings of $1,247,000 ($0.51 per diluted share) for the third quarter of fiscal 2010. The Company also reported year-to-date earnings for the nine months of $1,443,000 ($.58 per diluted share) compared to $3,212,000 ($1.32 per diluted share) for the similar fiscal 2010 period. Consolidated revenues for fiscal 2011's third quarter were $22,314,000, a decrease of less than 1% compared to the similar 2010 fiscal quarter. Consolidated revenues for the first nine months of the 2011 fiscal year were $57,508,000 or 6% lower than the prior year comparable period. At December 31, 2010, the backlog at Global Ground Support, the Company's ground support equipment business, was $19.0 million, compared to $5.7 million at December 31, 2009.