Air Industries Group Announces Return to Profitability for the September 2019 Quarter, Increases Guidance for 2019 Sales and EBITDA - Seite 2

Increased Fiscal 2019 Financial Guidance

The Company believes that market conditions for the Company’s products remain healthy. In light of strong demand from its customers which is anticipated to continue, the Company now expects fiscal 2019 sales from continuing operations to exceed $53.0 to $ 55.0 million which is above its previously issued sales guidance of sales in excess of $50.0 million. In addition, as a result of better year-to-date operating performance and continued expected improvements, the Company now expects Adjusted EBITDA for fiscal 2019 to approximate $5.0 million to $5.5 million as compared to its prior guidance of $4.0 million to $4.5 million.

CEO Commentary

Mr. Lou Melluzzo, CEO of Air Industries said, “I am pleased to report that Air Industries had positive net income for the third quarter of 2019. Our results in the third quarter reflect the increased focus on and the continuing improvement of our operations. We expect the improvement seen in the third quarter to continue in the fourth quarter and into next year.

The results of the third quarter and the nine months of 2019 enables us to again raise our financial guidance for both sales and adjusted Ebitda for the balance of 2019.”

Reconciliation of Adjusted EBITDA

									Calculation of Adjusted Ebitda from Continuing Operations
									For the Nine Months Ended September 30, 2019
									Net Loss