Art's Way Net Income Increases 155 Percent Over 9 Months

By CnAgri2012-10-17 22:33:42 Print

Art's Way Manufacturing Co., Inc., a leading manufacturer and distributor of agricultural machinery, equipment and services, announces its financial results for the three and nine months ended August 31, 2012.

In conjunction with the release, the Company has scheduled a conference call for Monday, October 15, 2012 at 10:00 AM Central. J. Ward McConnell, Jr., chairman of the board of directors of Art's Way Manufacturing, and Carrie Majeski, president, CEO and interim chief financial officer will be leading the call to discuss the third quarter and nine month financial results, and will also provide an outlook for the balance of 2012.

Financial Highlights For the Three and Nine Months Ended August 31, 2012:

-- Net sales for the three months ended August 31, 2012 were $11,534,000, a 24.7% increase over the same period in 2011.

-- Operating income for the three months ended August 31, 2012 was $1,607,000, an 11.8% increase over the same period in 2011.

-- Net sales for the nine months ended August 31, 2012 were $29,531,000, a 35.7% increase over the same period in 2011.

-- Net income for the nine months ended August 31, 2012 was $2,109,000, a 155.3% increase over the same period in 2011.