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 a look at how the flooding in Texas will impact the ag industry and check in with some dealers in the region.
Since 1980, A&I Products has become a leading manufacturer and wholesale distributor of aftermarket replacement parts for the agricultural, turf, and industrial equipment markets. A&I Products' experience and expertise has greatly contributed to the company's reputation as a top supplier of quality, reasonably priced parts. Founded with roots as a small machine shop and repair facility, the company made the transition by manufacturing new parts to replace those that were identified as commonly needing repair. Throughout the 1980s, the company quickly garnered a reputation for offering quality parts at a reasonable price.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.