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12. SEGMENT REPORTING (Tables) | 6 Months Ended
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Jun. 30, 2012
Segment Reporting Tables |
Operating segments | Financial information about the Company's operating segments for the three and six months ended June 30, 2012 and 2011 are as follows:
| Three Months Ended June 30, |  |  |  |  |  |
|  |  | 2012 |  |  | 2011 |
Air Industries Machining |  |  |  |  |  |
| Net Sales |  | $ | 11,585,000 |  |  | $ | 10,645,000 |
| Gross Profit |  |  | 2,193,000 |  |  |  | 1,878,000 |
| Pre Tax Income |  |  | 1,098,000 |  |  |  | 946,000 |
| Assets |  |  | 27,159,000 |  |  |  | 28,099,000 |
Nassau Tool Works |  |  |  |  |  |  |  |
| Net Sales |  |  | 513,000 |  |  |  | - |
| Gross Profit |  |  | 199,000 |  |  |  | - |
| Pre Tax Income |  |  | 154,000 |  |  |  | - |
| Assets |  |  | 13,366,000 |  |  |  | - |
Welding Metallurgy |  |  |  |  |  |  |  |
| Net Sales |  |  | 3,142,000 |  |  |  | 2,478,000 |
| Gross Profit |  |  | 1,044,000 |  |  |  | 694,000 |
| Pre Tax Income |  |  | 266,000 |  |  |  | 205,000 |
| Assets |  |  | 8,746,000 |  |  |  | 7,365,000 |
Corporate |  |  |  |  |  |  |  |  |
| Net Sales |  |  | - |  |  |  | - |
| Gross Profit |  |  | - |  |  |  | - |
| Pre Tax Loss |  |  | (836,000 | ) |  |  | (635,000 | )
| Assets |  |  | 16,860,000 |  |  |  | 9,856,000 |
Consolidated |  |  |  |  |  |  |  |
| Net Sales |  |  | 15,240,000 |  |  |  | 13,123,000 |
| Gross Profit |  |  | 3,436,000 |  |  |  | 2,572,000 |
| Pre Tax Income |  |  | 682,000 |  |  |  | 516,000 |
| Provision for Taxes |  |  | 363,000 |  |  |  | 25,000 |
| Net Income |  |  | 319,000 |  |  |  | 491,000 |
| Elimination of Assets |  |  | (13,860,000 | ) |  |  | (9,922,000 | )
| Assets |  |  | 52,271,000 |  |  |  | 35,398,000 |
| Six Months Ended June 30, |  |  |  |  |  |
|  |  | 2012 |  |  | 2011 |
Air Industries Machining |  |  |  |  |  |
| Net Sales |  | $ | 23,728,000 |  |  | $ | 20,738,000 |
| Gross Profit |  |  | 4,439,000 |  |  |  | 3,635,000 |
| Pre Tax Income |  |  | 2,294,000 |  |  |  | 1,698,000 |
| Assets |  |  | 27,159,000 |  |  |  | 28,099,000 |
Nassau Tool Works |  |  |  |  |  |  |  |
| Net Sales |  |  | 513,000 |  |  |  | - |
| Gross Profit |  |  | 199,000 |  |  |  | - |
| Pre Tax Income |  |  | 154,000 |  |  |  | - |
| Assets |  |  | 13,366,000 |  |  |  | - |
Welding Metallurgy |  |  |  |  |  |  |  |
| Net Sales |  |  | 7,037,000 |  |  |  | 4,985,000 |
| Gross Profit |  |  | 2,069,000 |  |  |  | 1,396,000 |
| Pre Tax Income |  |  | 854,000 |  |  |  | 592,000 |
| Assets |  |  | 8,746,000 |  |  |  | 7,365,000 |
Corporate |  |  |  |  |  |  |  |  |
| Net Sales |  |  | - |  |  |  | - |
| Gross Profit |  |  | - |  |  |  | - |
| Pre Tax Loss |  |  | (1,515,000 | ) |  |  | (1,405,000 | )
| Assets |  |  | 16,860,000 |  |  |  | 9,856,000 |
Consolidated |  |  |  |  |  |  |  |
| Net Sales |  |  | 31,278,000 |  |  |  | 25,723,000 |
| Gross Profit |  |  | 6,707,000 |  |  |  | 5,031,000 |
| Pre Tax Income |  |  | 1,787,000 |  |  |  | 885,000 |
| Provision for Taxes |  |  | 648,000 |  |  |  | 25,000 |
| Net Income |  |  | 1,139,000 |  |  |  | 860,000 |
| Elimination of Assets |  |  | (13,860,000 | ) |  |  | (9,922,000 | )
| Assets |  |  | 52,271,000 |  |  |  | 35,398,000 |

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 32 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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