secwatch.observer — SEC 8-K summary
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Issuer:     AIR INDUSTRIES GROUP (AIRI)
CIK:        0001009891
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001213900-24-028714
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air Industries reports preliminary FY2023 net loss of $2.13M; backlog up 14.7% to $98.3M
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- FY2023 net loss $2.13M (-$0.65 EPS) vs $1.08M loss in 2022; Q4 net income $181k ($0.06 EPS) vs $899k loss.
- FY2023 net sales $51.5M, down 3.2% YoY; Q4 sales $13.5M vs $13.9M in 2022.
- FY2023 adjusted EBITDA $2.69M ($3.54M in 2022); Q4 adjusted EBITDA $1.20M ($0.40M).
- Backlog $98.3M at Dec 31, 2023 (+14.7% YoY); book-to-bill 1.20x vs 0.75x in 2022.
- Expects late 10-K filing due to evaluation of internal controls and going concern; no impact on preliminary results.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1009891/000121390024028714/0001213900-24-028714-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1009891/000121390024028714/ea0203011-8k_airind.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-028714

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