Air Industries Stock Price, News & Analysis

Air Industries Group (NYSE American: AIRI) has secured a five-year Long-Term Agreement valued at $2.2 million to manufacture a quadrant for the Blackhawk Helicopter's tail-rotor gearbox. This agreement includes an immediate purchase order worth $500,000. Since January, the company has received twelve LTAs related to Blackhawk products totaling over $30 million. Additionally, Air Industries reports an increase in business opportunities, including three orders for nuclear submarine components from new clients.

Air Industries Group (NYSE American: AIRI) announced a reverse stock split at a ratio of 1-for-10, effective at 12:01 a.m. (ET) on October 18, 2022. This action will reduce the number of outstanding shares from 32,324,670 to 3,232,467. The split aims to increase per-share pricing, potentially broadening the investor base, although it does not alter ownership percentages. No notification from NYSE American necessitated this move. The Company will issue new stock certificates, with fractional shares rounded up.

Air Industries Group (NYSE American: AIRI), a manufacturer for aerospace and defense, announced two significant contracts totaling $5.0 million. The Air Industries Machining Corp. has secured a five-year Long-Term Agreement worth $2.2 million for Blackhawk helicopter assemblies, effective until December 31, 2027. Additionally, Sterling Engineering has received a $2.8 million order for engine components used in the F404 jet engine, which powers various military aircraft.

Air Industries Group (AIRI) announced its participation in the Sidoti & Company LLC Micro-Cap Virtual Investor Conference on August 17, from 1:45 PM to 2:15 PM ET. During the event, President and CEO Lou Melluzzo and CFO Michael Recca will present essential company insights. The event can be accessed via webcast, with further details available on the company's website. Air Industries Group specializes in manufacturing precision assemblies and components for aerospace and defense, serving as a prime contractor for the U.S. Department of Defense.

Air Industries Group (AIRI) reported financial results for Q2 and the first half of 2022, with consolidated net sales of $14.0 million for Q2, down 9% from $15.5 million in Q2 2021. However, net sales increased by 16% compared to Q1 2022. Gross profit decreased slightly to $2.4 million, but gross profit margin improved to 17.3%. The company posted a net loss of $7,000 for Q2, contrasting with net income of $239,000 in the same quarter last year. For the first six months, net sales were $26.1 million, an 11% drop from $29.2 million in 2021.

Air Industries Group (AIRI) reported its financial results for the second quarter and first half of 2022. Second quarter net sales decreased to $14.0 million, a 9% decline from $15.5 million in 2021 but improved 16% from the previous quarter. Gross profit was $2.4 million, slightly down from $2.6 million year-over-year, but up 17% quarter-over-quarter. The company experienced a net loss of $7,000 compared to net income of $239,000 in the prior year. For the six months, net sales totaled $26.1 million, an 11% decrease versus $29.2 million in 2021, with a net loss of $35,000.

Air Industries Group (AIRI) will release its financial results for the three and six months ended June 30, 2022 on August 8, 2022 at 8:30 AM. A subsequent investor conference call is scheduled for 4:15 PM the same day.

As a Tier 1 manufacturer for aerospace and defense applications, AIRI provides precision assemblies and components as a prime contractor to the U.S. Department of Defense.

Forward-looking statements regarding market trends and financial forecasts are subject to risks, including regulatory delays and economic conditions.

Air Industries Group (NYSE American: AIRI), a leading manufacturer of precision components for aerospace and defense, expressed gratitude to the U.S. Navy and the team behind 'Top Gun: Maverick' for featuring their landing gear. Highlighting their contribution to military aviation, they acknowledged being overlooked in movie credits while emphasizing the critical role of their products. Air Industries is known for its expertise in manufacturing flight safety components and is a prime contractor for the U.S. Department of Defense.

Air Industries Group (NYSE American: AIRI) announced an expansion of its existing Term Loan with Webster Bank to $5 million, which will facilitate the retirement of current debt and the purchase of CNC milling equipment costing approximately $870,000. Additionally, a $2 million Capital Expenditure Line of Credit was established for future machinery purchases. The loans mature on December 31, 2026, and are subject to a minimum interest rate of 3.5%. CEO Lou Melluzzo highlighted the benefits of the bank's ongoing support and the strategic investment in new equipment to enhance operational efficiency.