Air Industries Group reported third-quarter net income of $946,000, or $0.19 per diluted share, compared to a net loss of ($44,000) in the prior-year period. Net sales increased 41.1% to $14.6 million from $10.3 million, driven by improved gross margins that rose 330 basis points to 25.5%. Operating income surged 311% to $1.3 million. For the nine months ended September 30, net sales reached $38.2 million with a pro-forma adjusted net income of $0.35 per share excluding merger and stock compensation costs. The company cited a firm backlog of $95.4 million and October revenues of approximately $5.6 million as indicators of continued performance strength. Air Industries Group is a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors.
