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Condensed Consolidated Statements of Income (Unaudited) (As Restated) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Operating Revenues:        
Operating Revenues $ 46,618,573 $ 30,892,986 $ 113,631,022 $ 87,296,249
Operating Expenses:        
Flight-air cargo 9,823,987 5,641,402 25,597,653 15,943,068
Maintenance-air cargo 6,499,073 6,174,155 17,061,811 16,684,148
Ground equipment sales 14,629,183 9,474,732 33,229,603 27,429,825
Ground support services 5,358,593 4,366,863 15,137,050 12,160,830
Printing equipment and maintenance 1,376,000 1,376,000
Research and development 216,000 216,000
General and administrative 4,585,364 3,654,280 12,050,479 10,636,068
Depreciation and amortization 296,474 221,654 667,595 660,825
Gain on sale of property and equipment (56,218) (780,920) (50,837) (1,054,781)
42,728,456 28,752,166 105,285,354 82,459,983
Operating Income 3,890,117 2,140,820 8,345,668 4,836,266
Non-operating Income (Expense):        
Realized gain 4,163 78 4,163 8,487
Investment income 970 8,698
Interest expense and other 50,920 (2,798) 21,289 (19,079)
55,083 (1,750) 25,452 (1,894)
Income Before Income Taxes 3,945,200 2,139,070 8,371,120 4,834,372
Income Taxes 1,499,000 690,617 2,867,000 1,494,821
Net Income 2,446,200 1,448,453 5,504,120 3,339,551
Net Loss Attributable to Non-controlling Interests 279,510 279,510
Net Income Attributable to Air T, Inc. Stockholders $ 2,725,710 [1] $ 1,448,453 $ 5,783,630 [1] $ 3,339,551
Earnings Per Share:        
Basic (in dollars per share) $ 1.15 [1] $ 0.61 $ 2.44 [1] $ 1.42
Diluted (in dollars per share) $ 1.14 [1] $ 0.61 $ 2.41 [1] $ 1.41
Weighted Average Shares Outstanding:        
Basic (in shares) 2,372,527 [1] 2,357,637 2,372,527 [1] 2,355,901
Diluted (in shares) 2,396,999 [1] 2,381,214 2,396,645 [1] 2,373,500
Overnight Air Cargo [Member]        
Operating Revenues:        
Operating Revenues $ 18,674,458 $ 12,973,810 $ 48,949,401 $ 36,626,144
Ground Equipment Sales [Member]        
Operating Revenues:        
Operating Revenues 20,344,287 12,639,354 45,666,664 35,902,468
Ground Support Services [Member]        
Operating Revenues:        
Operating Revenues 6,559,110 5,279,822 17,974,239 14,767,637
Printing Equipment and Maintenance [Member]        
Operating Revenues:        
Operating Revenues 1,035,000 1,035,000
Leasing [Member]        
Operating Revenues:        
Operating Revenues $ 5,718 $ 5,718
[1] Earnings per common share have been restated for the three and nine-month periods ended December 31, 2015. See Note 1A.