Condensed Consolidated Balance Sheets (As Restated) (Current Period Unaudited) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
Current Assets:
Cash and cash equivalents (Delphax $276,000)**	$ 5,287,316	$ 14,165,120	[1]
Marketable securities	3,921,690	5,278,752
Accounts receivable, less allowance for doubtful accounts of $183,000 and $222,000 (Delphax $1,838,000)**	14,969,012	9,534,563	[1]
Notes and other receivables-current	954,240	816,606	[1]
Income tax receivable		195,000	[1]
Inventories (Delphax $4,869,000)**	11,557,592	7,789,649
Deferred income taxes	216,559	278,000	[1]
Prepaid expenses and other (Delphax $612,000)**	1,189,235	612,334	[1]
Total Current Assets	38,095,644	38,670,024	[1]
Investments in Available-For-Sale Securities	4,744,406		[1]
Property and Equipment, net (Delphax $391,000)**	4,516,440	2,571,499	[1]
Cash Surrender Value of Life Insurance Policies	2,110,830	1,990,671	[1]
Other Assets (Delphax $29,000)**	289,967	224,188	[1]
Total Assets	49,757,287	43,456,382	[1]
Current Liabilities:
Accounts payable (Delphax $1,197,000)**	5,629,318	4,715,708	[1]
Income tax payable (Delphax $170,000)**	872,267		[1]
Accrued expenses (Delphax $1,982,000)**	5,456,011	3,529,451	[1]
Short-term debt (Delphax $208,000)**	208,000		[1]
Total Current Liabilities	12,165,596	8,245,159	[1]
Long-term Debt (Delphax $11,000)**	11,000	5,000,000	[1]
Deferred Income Taxes	416,000	416,000	[1]
Other Non-current Liabilities (Delphax $49,000)**	53,690		[1]
Equity:
Preferred stock, $1.00 par value, 50,000 shares authorized,	0	0	[1]
Common stock, $.25 par value; 4,000,000 shares authorized, 2,372,527 shares issued and outstanding	593,131	593,131	[1]
Additional paid-in capital	4,936,518	4,929,090	[1]
Retained earnings	30,191,545	24,407,915	[1]
Accumulated other comprehensive loss	(37,743)	(134,913)	[1]
Total Air T, Inc. Stockholders' Equity	35,683,451	29,795,223	[1]
Non-controlling interests	1,427,550		[1]
Total Equity	37,111,001	29,795,223	[1]
Total Liabilities and Equity	$ 49,757,287	$ 43,456,382	[1]

[1] Derived from audited consolidated financial statements