secwatch.observer — SEC 8-K summary
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Issuer:     AIR INDUSTRIES GROUP (AIRI)
CIK:        0001009891
Form:       8-K
Filed at:   2023-07-10T23:59:59+00:00
Accession:  0001213900-23-055664
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air Industries Q1 2023 net loss widens to $618k; operating loss $158k on supply chain issues
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- Q1 2023 net sales $12.5M, up 4% YoY; gross margin fell to 15.0% from 17.2%.
- Operating loss of $158k vs income of $207k in Q1 2022; net loss $618k vs $28k.
- Interest expense rose to $476k from $323k due to higher prime rate and debt levels.
- CEO cited supply chain disruption, raw material delays; targeting nuclear submarine market.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1009891/000121390023055664/0001213900-23-055664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1009891/000121390023055664/ea181531-8k_airindust.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-055664

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer