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AIR INDUSTRIES GROUP (AIRI)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K10-K10-K/A10-K/A10-K/A
Revenues:  
    COMPLEX MACHINING    44.748.239.738.537.142.4
    TURBINE ENGINE COMPONENTS    5.46.34.86.811.011.0
    Other       4.63.227.1
Total revenues   [+]53.258.950.154.644.549.951.380.4
            Revenue growth   [+]-9.7%17.6%-8.2%22.6%-10.7%-2.8%-36.2%25.0%
Cost of goods sold  45.848.743.645.439.145.047.163.2
Gross profit  7.510.36.59.15.44.94.317.3
            Gross margin  14.0%17.4%13.0%16.8%12.2%9.8%8.3%21.5%
Selling, general and administrative  7.67.88.08.58.311.4-14.40.1
Other operating expenses     0.32.4-0.228.816.5
EBITDA   [+]2.35.31.13.3-2.4-3.0-5.55.1
            EBITDA margin  4.4%9.0%2.3%6.1%-5.3%-5.9%-10.7%6.3%
Depreciation  2.52.82.63.02.92.73.33.1
EBITA  -0.22.5-1.40.3-5.3-5.7-8.92.0
            EBITA margin  -0.4%4.2%-2.9%0.6%-11.8%-11.4%-17.3%2.5%
Amortization of intangibles       0.71.31.3
EBIT   [+]-0.22.5-1.40.3-5.3-6.4-10.10.7
            EBIT margin  -0.4%4.2%-2.9%0.6%-11.8%-12.8%-19.7%0.9%
Non-recurring items   [+]    -0.36.4 0.1
Interest expense  1.31.3-0.12.73.93.42.51.9
Other income (expense), net   [+]0.50.41.3-0.20.3-0.1-0.10.1
Pre-tax income  -1.11.6-0.1-2.6-8.6-16.3-12.8-1.1
Income taxes  0.00.0-1.40.02.4-0.22.1-0.3
            Tax rate  0.0%0.0%1641.9%  1.2% 25.6%
Earnings from continuing ops  -1.11.61.3-2.6-8.6-16.1-14.90.8
Earnings from discontinued ops    -0.2-0.1-2.1-6.5-0.8 
Net income  -1.11.61.1-2.7-11.0-22.6-15.6-0.8
            Net margin  -2.0%2.8%2.2%-5.0%-24.7%-45.2%-30.4%-1.0%
   
Basic EPS   [+]($0.33)$0.51$0.04($0.09)($0.32)($1.21)($1.96)$0.10
Diluted EPS   [+]($0.33)$0.45$0.04($0.09)($0.32)($1.21)($1.96)$0.10
   
   
Shares outstanding (basic)   [+]3.23.230.728.926.913.27.67.5
Shares outstanding (diluted)   [+]3.23.636.728.926.913.27.67.5
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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