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BAY SHORE, N.Y. - Air Industries Group (NYSE American:AIRI), a small-cap aerospace manufacturer with a market value of $12.38 million and current share price of $3.29, has been awarded a $5.4 million contract to manufacture landing gear steering collar components for the U.S. Air Force B-52 aircraft, the company announced Thursday. According to InvestingPro analysis, the company appears slightly undervalued based on its Fair Value estimates.
The aerospace and defense components manufacturer said deliveries under the contract are scheduled to begin in late 2026 and continue through the third quarter of 2027.
This order represents Air Industries’ first contract with a new customer and aligns with the company’s increased focus on after-market spare parts, according to the press release statement.
"The B-52 is a well-known aircraft and an integral asset of the US Air Force," said Lou Melluzzo, Chief Executive Officer of Air Industries Group. "The aircraft has been flying for decades, with continuous upgrades. It is expected to remain in service for another 25-years."
Melluzzo noted that with 76 aircraft currently active in the U.S. Air Force fleet, the company anticipates continued demand for after-market products to support the B-52 for many years to come.
Air Industries Group specializes in manufacturing precision components for large aerospace and defense prime contractors, including landing gears, flight controls, and engine components used in military and civilian aircraft.
In other recent news, Air Industries Group reported a decrease in net sales for the first quarter of 2025, with revenues dropping to $12.1 million from $14.1 million in the same period last year. Despite the decline in sales, the company saw an improvement in its gross margin, which increased to 16.8% from 13.6% a year earlier. However, the company reported a net loss of $988,000, or $0.27 per share, compared to a loss of $706,000, or $0.21 per share, in Q1 2024. Air Industries Group also announced an amendment to its Articles of Incorporation, increasing the number of authorized shares of common stock from 6,000,000 to 20,000,000. Additionally, the company adjusted its quorum requirement for shareholder meetings to 33.33% of outstanding common stock entitled to vote. The company remains focused on improving its operational efficiency and expanding its presence in emerging markets like electric vehicles and aircraft. Air Industries Group’s CEO, Lou Malouza, emphasized the company’s strong book-to-bill ratio, indicating positive future sales momentum. Analyst firm Taglich Brothers participated in the earnings call, inquiring about material procurement challenges and customer responses, to which the company confirmed no customer hesitation.
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