AIR Industries Group reports $47.9M sales, $(0.31) loss per share
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AIR Industries Group reported fiscal year net sales of $47.9 million, a 13.0% decline from the previous year, resulting in a net loss of $1.305 million or $(0.31) per share. Gross profit was $8.187 million with a 17.1% margin, improved from 16.2%. The company noted shifts in product mix and timing as factors for margin improvement. The sales concentration shifted towards RTX and Lockheed, while Northrop's share decreased. The company has a backlog of $270.1 million and is focused on securing new contracts and operational improvements.
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