Note 1A - Restatement of Previously Issued Consolidated Financial Statements (Tables)

9 Months Ended

Dec. 31, 2015

Notes Tables

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

	As Previously Reported			As Restated
Consolidated Balance Sheet Information (at December 31, 2015):
Retained earnings	$	30,437,175		$	30,191,545
Accumulated other comprehensive loss		(32,683	)		(37,743	)
Total Air T, Inc. stockholders' equity		35,934,141			35,683,451
Non-controlling interests		1,176,860			1,427,550
Total equity		37,111,001			37,111,001
Total liabilities and equity		49,757,287			49,757,287
Consolidated Statement of Income (Loss) (For the three months ended December 31, 2015):
Net loss attributable to non-controlling interests	$	525,140		$	279,510
Net income attributable to Air T, Inc. stockholders		2,971,340			2,725,710
Earnings per share - basic		1.25			1.15
Earnings per share - diluted		1.24			1.14
Consolidated Statement of Comprehensive Income (For the three months ended December 31, 2015):
Comprehensive loss attributable to non-controlling interests	$	536,140		$	285,450
Comprehensive income attributable to Air T, Inc. stockholders		3,628,086			3,377,396
Consolidated Statement of Income (Loss) (For the nine months ended December 31, 2015):
Net loss attributable to non-controlling interests	$	525,140		$	279,510
Net income attributable to Air T, Inc. stockholders		6,029,260			5,783,630
Earnings per share - basic		2.54			2.44
Earnings per share - diluted		2.52			2.41
Consolidated Statement of Comprehensive Income (For the nine months ended December 31, 2015):
Comprehensive loss attributable to non-controlling interests	$	536,140		$	285,450
Comprehensive income attributable to Air T, Inc. stockholders		6,131,490			5,880,800