Fiscal 2019 Guidance
At March 31, 2018, the Company had a fully funded 18-month backlog of over 100 million and has been awarded significant new contracts in the first quarter of 2019. As such, Air Industries reaffirms its guidance that net sales for fiscal 2019 will exceed the $ 44.5 million revenue achieved in fiscal 2018, with Adjusted EBITDA in the range of $ 3.0 to $ 3.5 million in 2019. Our first quarter results, when extrapolated to the full year, will exceed our prior guidance. We are hopeful and do expect that the momentum of the first quarter can be maintained and the results be built upon. We hope to update our guidance when we announce our 2019 second quarter earnings.
CEO Commentary
Lou Melluzzo, CEO of Air Industries said, “Our results for the first quarter of 2019 are very encouraging. Our net sales, and gross profit significantly exceeded the prior year. Our operating expenses remain constrained and operating loss greatly reduced. Our results are the rewards of the significant restructuring efforts of our management and employees for the past 18-months. In recent months, we have announced several major new contracts and we expect more in the coming months. We are also receiving increasing support from our vendors and service suppliers, which is improving our operating efficiency. We continue to be optimistic that we can build on these improvements in the months to come.”
Additional information about the Company can be found in its filings with the SEC.
Investor Conference Call
Management will host a conference call on Monday April 29, 2019 at 4:30PM EST.
Conference Toll-Free Number 1-800 289-0459
Passcode – 201325
