30° Good Morning
30° Good Morning

Air Industries stock jumps on earnings news

Air Industries Group Monday posted an 8 percent increase in net sales to $15.5 million and a 22 percent increase in net income to $341,000 for the first quarter versus the year-ago period.

The Bay Shore-based maker of landing gear, flight controls and other components for major aerospace and defense contractors reported diluted earnings per common share of 6 cents, an increase of one cent compared to the prior year's quarter.

Shares of Air Industries, which has been acquiring and integrating smaller aerospace shops on Long Island and elsewhere, climbed 8.3 percent to $10.45 in mid-afternoon trading.

More news