Air T’s 14 percent, year-over-year, increase in cargo revenue during fiscal 2012 contributed greatly to the company’s 7 percent, year-over-year, surge in consolidated revenue, according to the press release. A 9-percent, year-over-year, improvement in ground support services revenue also factored into this increase, although it was partially offset by a 2 percent, year-over-year, decline in ground equipment sales revenue.
In the press release, Air T ascribed its cargo gains — seen in its Mountain Air Cargo and CSA Air segments — to higher administrative fees and increased maintenance revenue stemming from the four planes FedEx procured during fiscal 2011. The company attributed higher ground support services revenue, however, to growth in its Global Aviation Services subsidiary.
Air T also addressed fiscal 2012’s decreased net earnings in the press release, blaming them on decreased profitability in its ground service equipment sales sector. According to the company, operational inefficiencies and competitive domestic and international markets are impairing margins in that segment. Air T’s $15.3 million backlog as of March 31 is another factor, the company explained in the press release.
Air T Chairman and CEO Walter Clark spoke out about the company’s performance in fiscal 2012, calling the year challenging. “But even in these difficult times, we have remained a strong and profitable company,” he said in a statement. “The management team continues to focus on improving operational efficiencies and maintaining the strong partnership with our customer base.”
Air T’s 14 percent, year-over-year, increase in cargo revenue during fiscal 2012 contributed greatly to the company’s 7 percent, year-over-year, surge in consolidated revenue, according to the press release. A 9-percent, year-over-year, improvement in ground support services revenue also factored into this increase, although it was partially offset by a 2 percent, year-over-year, decline in ground equipment sales revenue.
In the press release, Air T ascribed its cargo gains — seen in its Mountain Air Cargo and CSA Air segments — to higher administrative fees and increased maintenance revenue stemming from the four planes FedEx procured during fiscal 2011. The company attributed higher ground support services revenue, however, to growth in its Global Aviation Services subsidiary.
Air T also addressed fiscal 2012’s decreased net earnings in the press release, blaming them on decreased profitability in its ground service equipment sales sector. According to the company, operational inefficiencies and competitive domestic and international markets are impairing margins in that segment. Air T’s $15.3 million backlog as of March 31 is another factor, the company explained in the press release.
Air T Chairman and CEO Walter Clark spoke out about the company’s performance in fiscal 2012, calling the year challenging. “But even in these difficult times, we have remained a strong and profitable company,” he said in a statement. “The management team continues to focus on improving operational efficiencies and maintaining the strong partnership with our customer base.”