Air T, Inc. Updates Backlog Levels
MAIDEN, N.C., June 3, 2014 /PRNewswire/ -- Air T, Inc. (NASDAQ Capital Market: AIRT) today announced updated backlog at May 31, 2014 of approximately $21.7 million, the bulk of which is comprised of orders for commercial deicing units. Backlog at March 31, 2014 was $14.4 million and backlog at May 31, 2013 was $12.6 million.
Air T's backlog consists of "firm" orders supported by customer purchase orders for the equipment and services sold by its Global Ground Support subsidiary (GGS). Air T expects the May 31, 2014 backlog to be filled in the fiscal year ending March 31, 2015.
Mike Moore, Global Ground Support's CEO, commented, "The harsh winter weather and challenging operating conditions in North America have contributed to increased demand for high quality deicing equipment. We are gratified that our customers recognize and value the unique capabilities of our products and our after-market service offering."
Air T, through its subsidiaries, provides overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other special purpose industrial equipment, and provides ground support equipment and facilities maintenance to airlines. Air T is one of the largest, small-aircraft air cargo operators in the United States. Air T's Mountain Air Cargo (MAC) and CSA, Air subsidiaries currently operate a fleet of single and twin-engine turbo-prop aircraft nightly in the eastern half of the United States, Puerto Rico and the Caribbean Islands. Air T's Global Ground Support subsidiary manufactures deicing and other specialized military and industrial equipment and is one of the largest providers of deicers in the world. The Global Aviation Services subsidiary provides ground support equipment and facilities maintenance to domestic airline customers.
SOURCE Air T, Inc.