Art’s Way Mfg. Co. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, today announced its financial results for 2016.
Titan Machinery Inc. (TITN), a leading network of full-service agricultural and construction equipment stores, today reported financial results for the fiscal third quarter ended October 31, 2016.
Titan Machinery, the largest farm equipment dealership group worldwide, announced its second quarter fiscal year 2017 earnings on Aug. 25. The company reported that revenues for the period were down 19.3% to $285 million vs. $353 million a year ago.
For the first quarter of fiscal 2017, revenue was $284.9 million, compared to $353.2 million in the first quarter last year. Equipment sales were $184.9 million for the first quarter of fiscal 2017.
Net income for the company during the first quarter ended March 31, 2016, increased $0.6 million to $124.4 million. Net interest income increased to $140.6 million for the quarter.
The company reported the decrease in revenue was primarily due to the decreased demand for agricultural products the company has been experiencing for the last year.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.
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