Air Industries Group Announces Solid Financial Results for the Three and Nine Months Ended September 30, 2025
Third Quarter Results
Net sales for the three months ended
-
Gross profit for the three months ended
September 30, 2025 was$2.3 million . - Gross profit as a percentage of sales was 22.3%.
-
Operating expenses for the three months ended
September 30, 2025 were$2.0 million , increasing$105,000 or 5.6% compared to the same period in 2024. -
Operating income was
$316,000 . -
Net loss for 2025 was
$44,000 compared to a net loss of$404,000 in 2024.
Summary Income Statement and EBITDA
| Third Quarter Sep't (Unaudited) | |||||||
|
|
2025 |
|
|
2024 |
|
||
|
$ |
10,309,000 |
|
$ |
12,555,000 |
|
||
| Cost of Sales |
|
8,014,000 |
|
|
10,614,000 |
|
|
| Gross Profit |
|
2,295,000 |
|
|
1,941,000 |
|
|
| Gross Margin |
|
22.3 |
% |
|
15.5 |
% |
|
| Operating Expense |
|
1,979,000 |
|
|
1,874,000 |
|
|
| Operating Income |
|
316,000 |
|
|
67,000 |
|
|
| Interest Expense |
|
(466,000 |
) |
|
(482,000 |
) |
|
| Other Income (net) |
|
106,000 |
|
|
11,000 |
|
|
| Income (Loss) before Income Taxes |
|
(44,000 |
) |
|
(404,000 |
) |
|
| Income Taxes |
|
- |
|
|
- |
|
|
| Net Income (Loss) |
$ |
(44,000 |
) |
$ |
(404,000 |
) |
|
| Net Income (Loss) per Share |
$ |
(0.01 |
) |
$ |
(0.12 |
) |
|
| Reconciliation of EBITDA To GAAP | |||||||
| Net Income (Loss) |
$ |
(44,000 |
) |
$ |
(404,000 |
) |
|
| Interest Expense |
|
466,000 |
|
|
482,000 |
|
|
| Depreciation |
|
676,000 |
|
|
560,000 |
|
|
| Amortization |
|
17,000 |
|
|
17,000 |
|
|
| Stock Compensation |
|
166,000 |
|
|
190,000 |
|
|
| Adjusted EBITDA |
$ |
1,281,000 |
|
$ |
845,000 |
|
|
| All Amounts are Unaudited. | |||||||
Nine Months ended September Results:
Net sales for the nine months ended
-
Gross profit for the nine months ended
September 30, 2025 was$6.4 million . - Gross profit as a percentage of sales was 18.1%.
-
Operating expenses for the nine months ended
September 30, 2025 were$6.8 million . -
Operating loss for the nine months ended
September 30, 2025 was$422,000 . -
Net loss for 2025 was
$1.5 million compared to a loss of$812,000 in 2024.
Summary Income Statement and EBITDA
| Nine Months Sep't (Unaudited) | |||||||
|
|
2025 |
|
|
2024 |
|
||
|
$ |
35,111,000 |
|
$ |
40,188,000 |
|
||
| Cost of Sales |
|
28,754,000 |
|
|
33,697,000 |
|
|
| Gross Profit |
|
6,357,000 |
|
|
6,491,000 |
|
|
| Gross Margin |
|
18.1 |
% |
|
16.2 |
% |
|
| Operating Expense |
|
6,779,000 |
|
|
5,931,000 |
|
|
| Operating Income |
|
(422,000 |
) |
|
560,000 |
|
|
| Interest Expense |
|
(1,354,000 |
) |
|
(1,418,000 |
) |
|
| Other Income (net) |
|
322,000 |
|
|
46,000 |
|
|
| Income (Loss) before Income Taxes |
|
(1,454,000 |
) |
|
(812,000 |
) |
|
| Income Taxes |
|
- |
|
|
- |
|
|
| Net Income (Loss) |
$ |
(1,454,000 |
) |
$ |
(812,000 |
) |
|
| Loss per Share |
$ |
(0.36 |
) |
$ |
(0.24 |
) |
|
| Reconciliation of EBITDA To GAAP | |||||||
| Net Income (Loss) |
$ |
(1,454,000 |
) |
$ |
(812,000 |
) |
|
| Interest Expense |
|
1,354,000 |
|
|
1,418,000 |
|
|
| Depreciation |
|
1,961,000 |
|
|
1,661,000 |
|
|
| Amortization |
|
51,000 |
|
|
51,000 |
|
|
| Stock Compensation |
|
836,000 |
|
|
302,000 |
|
|
| Adjusted EBITDA |
$ |
2,748,000 |
|
$ |
2,620,000 |
|
|
| All Amounts are Unaudited. | |||||||
Overall, our operating results for the third quarter of fiscal 2025 have improved compared to the same period last year and the first two quarters of fiscal 2025.
Conference Call Information
The conference call-in number is 877–524–8416.
ABOUT
FORWARD LOOKING STATEMENTS
Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, future revenues, earnings and Adjusted EBITDA, the ability to realize firm backlog and projected backlog, cost cutting measures, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the timing of projects due to variability in size, scope and duration, the inherent discrepancy in actual results from estimates, projections and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
NON-GAAP FINANCIAL MEASURES
The Company uses Adjusted EBITDA, a Non-GAAP financial measure as defined by the
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Chief Financial Officer
631-328-7039
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