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

12 Months Ended

Mar. 31, 2016

	As Previously Reported			As Restated

Consolidated Balance Sheet Information (at March 31, 2016):
Additional paid-in capital	$	4,947,665		$	4,956,171
Retained earnings		29,350,980			28,821,825
Accumulated other comprehensive loss, net		(117,898	)		(140,519	)
Total Air T, Inc. stockholders' equity		34,773,878			34,230,608
Non-controlling interests		497,652			1,040,922
Total equity		35,271,530			35,271,530
Total liabilities and equity		52,154,752			52,154,752
Consolidated Statement of Income (Loss) (for the fiscal year ended March 31, 2016):
Net loss attributable to non-controlling interests	$	1,185,108		$	655,953
Net income attribuable to Air T, Inc. stockholders		4,943,065			4,413,910
Earnings per share - basic		2.08			1.86
Earnings per share - diluted		2.06			1.84
Consolidated Statement of Comprehensive Income (for the fiscal year ended March 31, 2016):
Comprehensive loss attributable to non-controlling interests	$	1,233,470		$	681,694
Comprehensive income attributable to Air T, Inc. stockholders		4,960,080			4,408,304
Consolidated Statement of Cash Flows (for the fiscal year ended March 31, 2016):
Proceeds from sale of property and equipment	$	(1,246,071	)	$	200,634
Capital expenditures		200,634			(1,246,071	)