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Titan Machinery Revenues Grow by 33% in 4Q

Titan Machinery, the largest dealer network handling Case IH and New Holland brands of farm and construction machinery, reported this morning that its 4Q revenues rose by 33.5% to $252.3 million from revenue of $189.0 million in the fourth quarter last year. All three of the Company's main revenue sources -- equipment, parts and service -- contributed to this period-over-period revenue growth. Equipment sales were $203.8 million, compared to $153.6 million in the fourth quarter last year. Parts sales were $27.7 million in the fourth quarter, compared to $20.1 million in the fourth quarter last year. Revenue generated from service improved to $14.9 million in the quarter, compared to $11.6 million in the fourth quarter last year.

Revenue generated from the Company's Agriculture segment was $226.9 million for the fourth quarter of fiscal 2010, compared to $170.5 million in the fourth quarter last year. Revenue generated from the Company's Construction segment was $31.9 million for the fourth quarter of fiscal 2010, compared to $23.0 million in the fourth quarter last year.

Yesterday the company announced the acquisition of Hubbard Implement in Iowa Falls, Iowa. That gives Titan 73 store locations across 7 states.

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