In issuing its outlook for fiscal year 2013 this morning, Titan Machinery says the operating environment remains favorable.
David Meyer, Titan’s chairman and CEO, said, “As we begin fiscal 2013, we are excited about the outlook for our business and are confident that we are well positioned to build upon our positive momentum and generate another record year for Titan Machinery. We expect to benefit from continued organic and acquired growth, including our international expansion into Romania and Bulgaria and our expanding footprint in our core Upper Midwest market. In addition, the operating environment remains favorable for our customers for both of our business segments.”
Fiscal 2013 Outlook
The Company evaluates its financial performance based on its customers' annual production cycles as opposed to a quarterly basis, due to weather fluctuations and the seasonal nature of each customer's business. The Company is anticipating achieving increased revenue for the full year ending January 31, 2013 in a range of $1.95 billion to $2.1 billion. Net income attributable to common stockholders is expected to be in the range of $53.8 million to $58.0 million, resulting in an earnings per diluted share range of $2.55 to $2.75 based on estimated weighted average diluted common shares outstanding of 21.1 million.
Conference Call and Presentation Information
The Company will host a conference call and audio webcast today at 7:30 a.m. Central time (8:30 a.m. Eastern time). A copy of the presentation that will accompany the prepared remarks from the conference call is available on the Company’s website under Investor Relations at www.titanmachinery.com. An archive of the audio webcast will be available on the Company’s website under Investor Relations at www.titanmachinery.com 30 days following the audio webcast.
Investors interested in participating in the live call can dial 888-515-2235 from the U.S. International callers can dial 719-457-2652. A telephone replay will be available approximately two hours after the call concludes and will be available through Wednesday, April 25, 2012, by dialing 877-870-5176 from the U.S., or 858-384-5517 from international locations, and entering confirmation code 4427456.
About Titan Machinery Inc.
Titan Machinery Inc., founded in 1980 and headquartered in West Fargo, North Dakota, is a multi-unit business with mature locations and newly acquired locations. The Company owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. The Titan Machinery network consists of 96 North American dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin and Colorado, including two outlet stores, as well as 10 European dealerships in Romania and Bulgaria. The Titan Machinery dealerships represent one or more of the CNH Brands (NYSE: CNH), a majority-owned subsidiary of Fiat Industrial (Milan: FI.MI), including Case IH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com.
Source: Titan Machinery Press Release