secwatch.observer — SEC 8-K summary
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Issuer:     AIR INDUSTRIES GROUP (AIRI)
CIK:        0001009891
Form:       8-K
Filed at:   2023-12-07T23:59:59+00:00
Accession:  0001213900-23-093798
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air Industries Q3 net sales $12.3M, down 7.4% YoY; net loss $1.3M vs $142k loss
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- Q3 net sales $12.3M, down 7.4% YoY; gross margin fell to 10.0% from 16.9%.
- Net loss of $1.3M vs $142k loss in Q3 2022; operating loss of $796k.
- Nine-month 2023 net loss $2.3M; Adjusted EBITDA $1.3M.
- Monthly bookings more than doubled to over $6M; awarded $8.9M purchase order for U.S. Navy E-2D program.
- CEO cites raw material shortages easing; expects rebound in Q4 and 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1009891/000121390023093798/0001213900-23-093798-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1009891/000121390023093798/ea189646-8k_airindust.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-093798

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