Lawrence Katz's questions to AIR INDUSTRIES (AIRI) leadership • Q3 2024
Question
Questioned the significant difference between a previously reported backlog of $280 million from an August press release and the current backlog of $105 million, seeking clarification on the discrepancy and confirming the larger order was still active.
Answer
Management clarified that the $105 million figure represents fully funded, near-term orders (18-24 months), while the larger $280 million figure is the total value of long-term agreements over their entire multi-year lifespan, which are funded incrementally. They confirmed the long-term agreements have not been rescinded and are still active.