Air Industries Group (A:AIRI)

Sector:  Industrials Industry:  Aerospace & Defense
 
See Regulatory Filings on SEC
Company Contact
Address: 1460 Fifth Avenue
BAY SHORE NY 11706
Tel: N/A
Website: https://airindustriesgroup.com
IR: See website
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Key People
Luciano Melluzzo
President, Chief Executive Officer 		Scott A. Glassman
Chief Financial Officer, Principal Accounting Officer, Company Secretary 		 
Business Overview
Air Industries Group is a holding company with three subsidiaries, Air Industries Machining Corp. (AIM), Nassau Tool Works, Inc. (NTW) and the Sterling Engineering Company (SEC). The Company manufactures aerospace components primarily for the aerospace and defense industry. Its AIM and NTW manufacture structural parts and assemblies focusing on flight safety, including aircraft landing gear, arresting gear, engine mounts, flight controls, throttle quadrants and other components. SEC makes components and provides services for aircraft jet engines and ground-power turbines. AIM and NTW offers its products to a range of military and commercial aircraft, including the Sikorsky UH-60 Blackhawk, Lockheed Martin F-35 Joint Strike Fighter and Northrop Grumman E2D Hawkeye, and others. They also make a critical component for the Pratt & Whitney Geared TurboFan aircraft engine used on commercial airliners. SEC makes products used in jet engines that are used on military and commercial aircraft.
Financial Overview
For the fiscal year ended 31 December 2023, Air Industries Group revenues decreased 3% to $51.5M. Net loss increased 98% to $2.1M. Revenues reflect Military segment decrease of 4% to $42.4M, Commercial segment decrease of 1% to $9.1M. Higher net loss reflects Interest and Financing Costs - Balancing increase of 50% to $1.3M (expense), Gain on write-off of accounts payable decrease from $317K (income) to $0K.
Employees: 180 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $38.91M as of Dec 31, 2023
Annual revenue (TTM): $51.52M as of Dec 31, 2023
EBITDA (TTM): $2.10M as of Dec 31, 2023
Net annual income (TTM): -$2.13M as of Dec 31, 2023
Free cash flow (TTM): $2.74M as of Dec 31, 2023
Net Debt Last Fiscal Year: $22.96M as of Dec 31, 2023
Shares outstanding: 3,315,368 as of Apr 12, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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