Air Industries Group reports Q1 2024 growth By Investing.com

From Investing.com: 2024-05-18 17:48:09

In Q1 2024, Air Industries Group (AIRI) reported a revenue increase from the previous year and the fourth quarter of 2023. Bookings reached $12.95 million, backlog rose to $99.3 million, with a book-to-bill ratio of 0.92 to 1. An $8.2 million order for helicopter components was announced. However, a net loss of $706,000 was also reported. Looking ahead, the company aims for at least $50 million in net sales for fiscal 2024, despite operational challenges.

AIRI’s Q1 2024 earnings call highlighted a positive outlook for fiscal 2024, with a focus on growth opportunities. The company’s strong order flow, demonstrated by bookings and backlog, signals future revenue growth. While facing operational hurdles, AIRI remains optimistic about its expansion into new markets and expected growth in 2024. Stay tuned for more updates on AIRI’s progress and financial performance.



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