Air Industries Group (the "Company" or "Air Industries") Announces Anticipated Sales Decline for Second Quarter of 2014

Air Industries Group (the "Company" or "Air Industries") Announces Anticipated 
Sales Decline for Second Quarter of 2014 
BAY SHORE, NY -- (Marketwired) -- 05/16/14 --  Air Industries Group
(NYSE MKT: AIRI) (Air Industries or the Company) announced today that
it anticipates that consolidated net sales for the calendar quarter
ending on June 30, 2014, will be approximately $12.5 million; a
decrease of approximately $3.0 million from first quarter net sales
of $15.5 million. During the Second Quarter of 2014 the Company
encountered delays in production of E2D landing gear. We expect that
these problems will be corrected in the third and fourth quarter of
2014. The Company still anticipates that we will have positive EBITDA
for the Second Quarter of 2014. 
Air Industries anticipates that net sales for the year ending
December 31, 2014 will be approximately $64.5 million, in line with
our previous expectation for the year and results for 2013. These
amounts do not include sales from our previously announced two
acquisitions which have not yet closed.  
Mr. Peter Rettaliata, Chief Executive Officer of Air Industries,
commented: "The delays in shipping product are disappointing but it
is important to note that these products will ship in the near future
and that our expectations for the year remain unchanged."  
 Air Industries Group (AIRI) is an
integrated manufacturer of precision equipment assemblies and
components for leading aerospace and defense prime contractors. Air
Industries designs and manufactures flight critical products
including flight safety parts, landing gear and components, arresting
gear, flight controls, sheet metal fabrications and ground support
The Company uses EBITDA as a supplemental liquidity measure because
management finds it useful to understand and evaluate results,
excluding the impact of non-cash depreciation and amortization
charges, stock based compensation expenses, and nonrecurring expenses
and outlays, prior to consideration of the impact of other potential
sources and uses of cash, such as working capital items. This
calculation may differ in method of calculation from similarly titled
measures used by other companies. 
Certain matters discussed in this press release are 'forward-looking
ments' 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, its belief that the slowdown caused by the Sequester
will reverse in the 2nd half of 2014, the ability to realize firm
backlog and projected backlog, 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
Contact Information 
Air Industries Group
Press spacebar to pause and continue. Press esc to stop.