Entering text into the input field will update the search result below

Air Industries Group (AIRI) CEO Luciano Melluzzo on Q1 2022 Results - Earnings Call Transcript

SA Transcripts profile picture
SA Transcripts

Air Industries Group (NYSE:AIRI) Q1 2022 Earnings Conference Call May 3, 2022 11:00 AM ET

Company Participants

Luciano Melluzzo - CEO

Michael Recca - CFO

Conference Call Participants


Good day and welcome to the Air Industries First Quarter Earnings Conference Call. Today’s conference is being recorded.

Except for the historical information contained herein the matters discussed in this presentation contain forward-looking statements. The accuracy of these statements is subject to significant risks and uncertainties. Actual results could differ materially from those contained in the forward-looking statements. See the Company’s SEC filings on Forms 10-K and 10-Q for important information about the company and related risks.

EBITDA is used 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 non-recurring 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.

At this time, I’d like to turn the conference over to Lou Melluzzo. Please go ahead.

Luciano Melluzzo

Thank you, Melinda. Good afternoon, everyone, and thank you for joining us.

Our continued progress in driving profitability was fully evident in our first quarter results. As expected revenue for the quarter was lower year-over-year totaling 12.1 million, which is down 12%, from the first quarter a year ago. Meanwhile, first quarter 2022 gross profit increased 16% to 2.1 million, and the gross margin increased to 17.2% sales, a full 410 basis point improvement over the quarter a year ago. EBITDA was essentially equal to 2021 first quarter. The major factors that impacted our top line performance were supply chain disruptions that delayed our receiving raw materials, and labor shortages.

Recommended For You

Comments (1)

And the backlog is???
To report an error in this transcript, .Contact us to add your company to our coverage or use transcripts in your business. Learn more about Seeking Alpha transcripts here. Your feedback matters to us!
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.