Air Industries Group (AIRI) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
1460 FIFTH AVENUE BAY SHORE, NY 11706 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3728 - Aircraft Parts and Auxiliary Equipment, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 281 | 627 | 2,505 | 1,294 | 2,012 | 630 | |||
| Cash and cash equivalents | 281 | 627 | 2,505 | 1,294 | 2,012 | 630 | |||
| Receivables | 9,483 | 11,067 | 9,762 | 8,717 | 7,046 | 5,958 | |||
| Inventory, net of allowances, customer advances and progress billings | 31,821 | 29,532 | 32,120 | 28,646 | 29,051 | 31,141 | |||
| Inventory | 31,821 | 29,532 | 32,120 | 28,646 | 29,051 | 31,141 | |||
| Prepaid expense | 28 | 22 | 15 | 49 | 49 | ||||
| Capitalized contract cost | 296 | ✕ | |||||||
| Asset, held-for-sale, not part of disposal group | 10,082 | ||||||||
| Other undisclosed current assets | 307 | (368) | (791) | (412) | (110) | (280) | |||
| Total current assets: | 42,216 | 40,880 | 43,611 | 38,245 | 38,048 | 47,580 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 2,473 | 3,018 | ✕ | ✕ | |||||
| Property, plant and equipment | 8,593 | 8,404 | 9,581 | 7,578 | 8,777 | 10,050 | |||
| Intangible assets, net (including goodwill) | 163 | 163 | 438 | 163 | 272 | ||||
| Goodwill | 163 | 163 | 163 | 163 | 272 | ||||
| Intangible assets, net (excluding goodwill) | 275 | ||||||||
| Deferred costs | 532 | 960 | 912 | 1,481 | 768 | 665 | |||
| Other undisclosed noncurrent assets | 3,510 | 3,348 | 2,188 | ||||||
| Total noncurrent assets: | 11,598 | 12,545 | 14,166 | 12,845 | 9,708 | 13,175 | |||
| TOTAL ASSETS: | 53,814 | 53,425 | 57,777 | 51,090 | 47,756 | 60,755 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 7,542 | 6,723 | 8,682 | 8,105 | 8,723 | 10,872 | |||
| Taxes payable | ✕ | ✕ | 27 | 20 | 20 | ||||
| Employee-related liabilities | ✕ | ✕ | 852 | 663 | |||||
| Accounts payable | 5,460 | 7,240 | 6,576 | 6,782 | 8,634 | ||||
| Accrued liabilities | 411 | 337 | 1,529 | 1,941 | 2,238 | ||||
| Other undisclosed accounts payable and accrued liabilities | 7,542 | 442 | (27) | (20) | (20) | ||||
| Debt | 14,477 | 14,112 | 16,475 | 16,379 | 23,131 | ||||
| Deferred compensation liability | 314 | ||||||||
| Disposal group, including discontinued operation | 59 | ||||||||
| Due to related parties | 400 | 6,862 | 2,552 | 262 | |||||
| Other liabilities | 778 | ||||||||
| Other undisclosed current liabilities | 819 | 2,508 | 1,456 | 1,276 | 17,732 | 3,784 | |||
| Total current liabilities: | 23,616 | 23,402 | 27,327 | 32,622 | 29,007 | 38,049 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 10,791 | 3,241 | 3,927 | 4,235 | |||||
| Long-term debt, excluding current maturities | 10,791 | ||||||||
| Liabilities, other than long-term debt | 2,463 | 6,412 | 2,283 | 1,650 | |||||
| Due to related parties | 6,412 | 2,283 | 1,650 | ||||||
| Operating lease, liability | 2,463 | 3,241 | 3,927 | 4,235 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 105 | 2,981 | 7,487 | 4,027 | 4,860 | 3,290 | |||
| Total noncurrent liabilities: | 13,359 | 12,634 | 15,341 | 8,262 | 7,143 | 4,940 | |||
| Total liabilities: | 36,975 | 36,036 | 42,668 | 40,884 | 36,150 | 42,989 | |||
| Equity | |||||||||
| Equity, attributable to parent | 16,839 | 17,389 | 15,109 | 10,206 | 11,606 | 17,766 | |||
| Common stock | 3 | 32 | 32 | 29 | 28 | 25 | |||
| Additional paid in capital | 82,446 | 81,891 | 81,238 | 77,434 | 76,101 | 71,272 | |||
| Accumulated deficit | (65,610) | (64,534) | (66,161) | (67,257) | (64,523) | (53,531) | |||
| Total equity: | 16,839 | 17,389 | 15,109 | 10,206 | 11,606 | 17,766 | |||
| TOTAL LIABILITIES AND EQUITY: | 53,814 | 53,425 | 57,777 | 51,090 | 47,756 | 60,755 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 53,238 | 58,939 | 50,097 | 54,573 | 46,309 | 49,869 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 49,869 | |
| Cost of revenue | (45,786) | (48,686) | (43,585) | (45,431) | (40,895) | (45,002) | ||
| Cost of goods and services sold | (45,786) | (135) | (91) | (10) | (99) | (196) | ||
| Gross profit: | 7,452 | 10,253 | 6,512 | 9,142 | 5,414 | 4,867 | ||
| Operating expenses | (7,646) | (7,766) | (7,951) | (8,539) | (8,839) | |||
| Other undisclosed operating loss | (275) | (2,538) | (17,625) | |||||
| Operating income (loss): | (194) | 2,487 | (1,439) | 328 | (5,963) | (12,758) | ||
| Nonoperating income (expense) | 139 | 405 | 430 | 672 | 278 | (22) | ||
| Investment income, nonoperating | 1,430 | |||||||
| Other nonoperating expense | (22) | |||||||
| Interest and debt expense | (487) | (460) | (526) | (212) | (112) | |||
| Income (loss) from continuing operations before equity method investments, income taxes: | (542) | 2,432 | (1,535) | 1,000 | (5,897) | (12,892) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (534) | (805) | 1,449 | (3,561) | (3,709) | |||
| Income (loss) from continuing operations before income taxes: | (1,076) | 1,627 | (86) | (2,561) | (9,606) | (12,892) | ||
| Income tax expense (benefit) | 1,412 | (37) | (3) | 197 | ||||
| Income (loss) from continuing operations: | (1,076) | 1,627 | 1,326 | (2,598) | (9,609) | (12,695) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 1,627 | 1,096 | (2,732) | (10,992) | (19,373) | ||
| Loss from discontinued operations | (230) | (134) | (1,383) | (6,678) | ||||
| Net income (loss): | (1,076) | 1,627 | 1,096 | (2,732) | (10,992) | (19,373) | ||
| Other undisclosed net loss attributable to parent | (3,178) | |||||||
| Net income (loss) attributable to parent: | (1,076) | 1,627 | 1,096 | (2,732) | (10,992) | (22,551) | ||
| Other undisclosed net income available to common stockholders, basic | 322 | 878 | ||||||
| Net income (loss) available to common stockholders, basic: | (1,076) | 1,949 | 1,974 | (2,732) | (10,992) | (22,551) | ||
| Interest on convertible debt | 322 | 499 | ||||||
| Net income (loss) available to common stockholders, diluted: | (1,076) | 2,271 | 2,473 | (2,732) | (10,992) | (22,551) | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (1,076) | 1,627 | 1,096 | (2,732) | (10,992) | (19,373) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (1,076) | 1,627 | 1,096 | (2,732) | (10,992) | (19,373) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.