Air Industries Group, an aerospace and defense company, designs, manufactures, and sells structural parts and assemblies for prime defense contractors in the aerospace industry in the United States. The company operates through two segments, Complex Machining and Turbine Engine Components. The Complex Machining segment offers landing gear, arresting gear, engine mounts, flight controls, throttle quadrants, and other components. Its products are deployed on a range of military and commercial aircraft, including Sikorsky's UH-60 Black Hawk, Lockheed Martin's F-35 Joint Strike Fighter, Northrop Grumman's E2 Hawkeye, Boeing's 777, Airbus' 380 commercial airliners, and the U.S. Navy F-18 and USAF F-16 fighter aircraft. The Turbine Engine Components segment makes components and provides services for jet engines and ground-power turbines. Its jet engine components are used on the USAF F-15 and F-16, the Airbus A-330 and A-380, and the Boeing 777, as well as ground-power turbine applications. The company was founded in 1979 and is headquartered in Bay Shore, New York.
IPO Year:
Exchange: AMEX
Website: airindustriesgroup.com
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Air Industries (AMEX:AIRI) reported quarterly losses of $(0.21) per share. The company reported quarterly sales of $14.06 million which beat the analyst consensus estimate of $13.00 million by 8.16 percent. This is a 12.05 percent increase over sales of $12.55 million the same period last year.
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Air Industries (AMEX:AIRI) reported quarterly earnings of $0.06 per share which beat the analyst consensus estimate of $(0.34) by 117.65 percent. This is a 121.43 percent increase over losses of $(0.28) per share from the same period last year. The company reported quarterly sales of $13.47 million which beat the analyst consensus estimate of $12.40 million by 8.62 percent. This is a 3.03 percent decrease over sales of $13.89 million the same period last year.
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced financial results for the third quarter and nine months ended September 30, 2024, and provides an update on its 2024 business outlook. Q3 2024 Financial Highlights (as compared to Q3 2023): Revenues increased by 2.1%. Gross profit rose significantly by $713,000, an increase of 58%, resulting in gross margin of 15.5% up from the 10.0% achieved in 2023. Operating expenses were reduced by $150,000, or 7.4%. Operating profit for the quarter was $67,000, a substantial improvement over the $796,000 loss
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced that it will release its financial results for the Three and Nine Months ended September 30, 2024 tomorrow, Thursday, November 14th pre-market at 7:00 am Eastern. Conference Call Information The company will host an earnings conference call Thursday, November 14th at 4:30 pm Eastern. The conference call-in number is 877–524–8416 ABOUT AIR INDUSTRIES GROUP Air Industries Group is a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors. Its products i
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today reported earnings results for the second quarter and six months 2024 along with an update of its 2024 business outlook. "Our second quarter reflected strength across our business," said Lou Melluzzo, CEO of Air Industries Group. "For the three months, revenues increased by 2.8% compared to the prior year, but gross profit and gross margin on sales improved dramatically. Gross profit for the second quarter increased by $474,000 or nearly 22% compared to 2023. With two quarters under our belt, 2024 is on track to be a yea
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced that it will release its financial results for the Three and Six Months ended June 30, 2024 tomorrow, Wednesday, August 14th pre-market at 8:30am ET. Conference Call Information At 4:30 ET that day, the Company will also host an Earnings Conference call to discuss its results. Individuals can access the call by dialing 877-524-8416. An audio replay of the call will be available on the Company's investor relations website shortly thereafter. ABOUT AIR INDUSTRIES GROUP Air Industries Group is a leading man
Air Industries Group (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today reported financial results for the first quarter and updated its 2024 business outlook. "Fiscal 2024 is off to a good start. The strong order and opportunity flow we experienced during the fourth quarter of last year continues and remains strong. We achieved bookings of $12.95 million and our backlog increased to $99.3 million." said Lou Melluzzo, CEO of Air Industries Group. "We remain laser focused on several large opportunities we expect to close. I remain confident that fiscal 2024 will be a year of growth." First Quarter 2024 Finan
Air Industries Group (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today reported preliminary earnings results for the fourth quarter and full-year of 2023 along with its initial 2024 business outlook. "The fourth quarter of 2023 marked a robust end to a year of significant progress and strategic growth positioning," said Lou Melluzzo, CEO of Air Industries Group. "Not only did Q4 see the highest net sales of the year but also saw us achieve our highest operating income and Adjusted EBITDA. With strong bookings and continually expanding opportunities, I am confident about our future and expect 2024 to be a yea
Air Industries Group (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced that it plans to release its preliminary Q4 fiscal and full-year 2023 results after the market closes on Monday, April 1, 2024. Conference Call Information At 4:30 ET that day, the Company will also host a conference call to discuss its results and 2024 Business Outlook. Individuals can access the call by dialing 877-524-8416. An audio replay of the call will be available on the Company's investor relations website shortly thereafter. ABOUT AIR INDUSTRIES GROUP Air Industries Group is a leading manufacturer of precision co
Conference Call Scheduled for December 7, 2023 Air Industries Group (NYSE:AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, today announced its financial results for the third quarter ended September 30, 2023. Commenting on the recent results, Lou Melluzzo, CEO of Air Industries Group, expressed optimism about the Company's trajectory: "Our third quarter of 2023 was challenging and was impacted by shortages of critical raw materials for a certain product. Thankfully, these material shortages have begun to ease and we expect business to rebound
Air Industries Group (the Company) (NYSE:AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, today announced that it has appointed Peter Rettaliata Chairman of the Company's Board of Directors. As Chairman, he succeeds Michael Taglich, who will remain on the Board of Directors. Mr. Rettaliata is currently a director of Air Industries and was formerly the Company's Chief Executive Officer. He has spent 50 years in the aerospace industry and has served as an executive and director of Air Industries for nearly three decades. For 20 years, from 1994
Air Industries Group (the Company) (NYSE:AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, today announced that it has been awarded two new contracts valued at a total of $5.2 million to produce components for the U.S. Navy E-2D aircraft and F-35 Joint Strike Fighter. The first order is valued at $2.0 million for E-2D arresting gear components. The order originates from a long-time customer of Air Industries Group, which has manufactured these flight safety components for many years. Deliveries under this new order are expected to begin in 2025.
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced financial results for the third quarter and nine months ended September 30, 2024, and provides an update on its 2024 business outlook. Q3 2024 Financial Highlights (as compared to Q3 2023): Revenues increased by 2.1%. Gross profit rose significantly by $713,000, an increase of 58%, resulting in gross margin of 15.5% up from the 10.0% achieved in 2023. Operating expenses were reduced by $150,000, or 7.4%. Operating profit for the quarter was $67,000, a substantial improvement over the $796,000 loss
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced that it will release its financial results for the Three and Nine Months ended September 30, 2024 tomorrow, Thursday, November 14th pre-market at 7:00 am Eastern. Conference Call Information The company will host an earnings conference call Thursday, November 14th at 4:30 pm Eastern. The conference call-in number is 877–524–8416 ABOUT AIR INDUSTRIES GROUP Air Industries Group is a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors. Its products i
NEW YORK, NY / ACCESSWIRE / October 16, 2024 / Air Industries Group (NYSE:AIRI), an integrated manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the Department of Defense, announced today that it will be participating in the MicroCap Rodeo Fall Conference, that will be held on Wednesday, October 16th, 2024, in New York City.Mr. Luciano (Lou) Melluzzo, CEO will be presenting at the conference and will discuss:Recent new contract winsImprovement in funded backlogImproving financial results.The presentation will be at 2:00pm ET on October 16th and will be webcast live. Interested parties can register to watch t
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced a partnership with All-System Aerospace International ("All-System Aerospace"), to expand access in the rapidly growing Foreign Military Sales ("FMS") market. The partnership agreement covers sales to 17 countries across Europe, the Middle East, Asia, and the Pacific, marking a major step forward in Air Industries' strategic goal to broadening manufacturing and distribution to allied militaries. Through this collaboration, Air Industries is poised to leverage All-System Aerospace's well-established internation
New 7-Year Contract Expands Backlog to over $280 Million Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced that it has received a $110 million, 7-year contract for the production of Thrust Struts used in the Geared Turbo-Fan (GTF) aircraft jet engine. Air Industries has been the sole supplier of this critical component since 2015. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240822786514/en/(Photo: Business Wire) The new contract will commence in January 2025 and extend through 2031 replacing an
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today reported earnings results for the second quarter and six months 2024 along with an update of its 2024 business outlook. "Our second quarter reflected strength across our business," said Lou Melluzzo, CEO of Air Industries Group. "For the three months, revenues increased by 2.8% compared to the prior year, but gross profit and gross margin on sales improved dramatically. Gross profit for the second quarter increased by $474,000 or nearly 22% compared to 2023. With two quarters under our belt, 2024 is on track to be a yea
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced that it will release its financial results for the Three and Six Months ended June 30, 2024 tomorrow, Wednesday, August 14th pre-market at 8:30am ET. Conference Call Information At 4:30 ET that day, the Company will also host an Earnings Conference call to discuss its results. Individuals can access the call by dialing 877-524-8416. An audio replay of the call will be available on the Company's investor relations website shortly thereafter. ABOUT AIR INDUSTRIES GROUP Air Industries Group is a leading man
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today reported that it has reached an agreement with Webster Bank, its primary lender to amend the Company's Current Credit Facility. The modified Credit Facility provides for the following: A waiver of the failure to achieve the fixed charge coverage ratio for the period ended March 31, 2024, A reduction in certain financial covenant metrics for the balance of calendar 2024 and the first calendar quarter of 2025, An advance under the term loan of $1 million to be used for capital expenditures and a reduction in annu
Air Industries Group ("Air") (NYSE:AIRI), a leading manufacturer of precision assemblies and components for large aerospace and defense prime contractors, today announced it has received a $2.4 million order for spare landing gear assemblies to be used on the E-2C Hawkeye. Mr. Lou Melluzzo, CEO of Air Industries, commented: "This award underscores the significance of our capabilities in providing aftermarket support, and fostering relationships with our valued customers. The considerable momentum that we generated in 2023 is continuing in 2024, and we remain encouraged by the high demand for our products and services. The E-2C/D Hawkeye program represents just one among Air's product line
Air Industries Group ("Air Industries") (NYSE:AIRI), a leading manufacturer of precision assemblies and components for large aerospace and defense prime contractors, today announced it has received orders, from two customers, aggregating $8.2 million, for components used on UH-60 Black Hawk and H-92 Super Hawk helicopters. Mr. Lou Melluzzo, CEO of Air Industries, commented: "These contract awards provide tangible evidence of growing demand for critical military aircraft parts and our prominent role in supporting vital military aircraft programs. While the H-92 is a relatively new and welcome addition to our portfolio, we have been a supplier of flight critical assemblies for the Black Haw
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