Air Industries Q2 net loss narrows to $395K; operating income swings positive

AIR INDUSTRIES GROUP

2023-Q2 EPS reported -$0.31 revenue$25,754,000

Q2 2023 net sales $13.2M, up 5% sequentially from Q1 but down 5.7% YoY.
Gross margin improved to 16.4% vs 15.0% in Q1 2023.
Operating income of $90K vs operating loss of $158K in prior quarter.
Net loss of $395K, improved from $618K in Q1 2023, though higher interest expense of $500K.
CEO cites improved order flow trajectory and payoff from prior investments.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

AIR INDUSTRIES GROUP reported the quarter ended June 30, 2023 results: revenue $13.2 million, net income $395,000.

Period: the quarter ended June 30, 2023
Revenue: $13.2 million
Net income: $395,000
Result: reported results

Exact text from the filing

Consolidated net sales for the second quarter ended June 30, 2023 were $13.2 million

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Source: SEC EDGAR

accession 0001213900-23-064251

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