Net Earnings (Loss) Per Share

9 Months Ended

Dec. 31, 2021

Basic earnings per share has been calculated by dividing net income (loss) attributable to Air T, Inc. stockholders by the weighted average number of common shares outstanding during each period. For purposes of calculating diluted earnings (loss) per share, shares issuable under stock options were considered potential common shares and were included in the weighted average common shares unless they were anti-dilutive. The computation of basic and diluted earnings per common share is as follows (in thousands, except for per share figures):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2021		2020		2021		2020
Net (loss) income from continuing operations	$	(1,189)	$	1,763	$	7,141	$	(2,550)
Net (income) loss from continuing operations attributable to non-controlling interests	(73)		335		(559)		884
Net (loss) income from continuing operations attributable to Air T, Inc. Stockholders	(1,262)		2,098		6,582		(1,666)
(Loss) Income from continuing operations per share:
Basic	$	(0.44)	$	0.73	$	2.28	$	(0.58)
Diluted	$	(0.44)	$	0.73	$	2.28	$	(0.58)
Antidilutive shares excluded from computation of loss per share from continuing operations	11		—		—		5

Gain on sale of discontinued operations, net of tax	—		—		—		4
Income from discontinued operation attributable to Air T, Inc. stockholders	—		—		—		4

Income from discontinued operations per share:
Basic	$	—	$	—	$	—	$	—
Diluted	$	—	$	—	$	—	$	—

(Loss) Income per share:
Basic	$	(0.44)	$	0.73	$	2.28	$	(0.58)
Diluted	$	(0.44)	$	0.73	$	2.28	$	(0.58)
Antidilutive shares excluded from computation of loss per share	11		—		—		5

Weighted Average Shares Outstanding:
Basic	2,882		2,882		2,882		2,882
Diluted	2,882		2,887		2,893		2,882