Strong U.S. unit sales of combines in August (+38.1%) weren’t enough to offset the overall revenue loss caused by the 27% drop in tractor sales, according to JP Morgan’s proprietary revenue model.
Company increases revenue, net income and diluted EPS guidance range for fiscal 2012; First quarter revenue increased 55% to $318 million and earnings per diluted share grew to $0.40; Company continues to execute on acquisition growth strategy with five acquisitions.
Titan now expects to achieve revenue for the full year ending January 31, 2012 in a range of $1.310 billion to $1.385 billion compared to the previous range of $1.275 billion to $1.350 billion.
Titan Machinery (Nasdaq:TITN), a leading network of full-service agricultural and construction equipment stores, today reported financial results for the fiscal second quarter and first six months ended July 31, 2012. For the second quarter of fiscal 2013, revenue increased 31.9% to $410.1 million from revenue of $310.8 million in the second quarter last year.
While overall figures showed a significant falloff in demand for Deutz diesel engines last year, the German manufacturer was encouraged by the healthy increase in sales to the agricultural machinery sector.
For the first quarter of fiscal 2009, Rocky Mountain Dealerships Inc. saw its net sales increase by 53.7% to $107.2 million, compared to $69.7 million for the first quarter of fiscal 2008.
On April 28, AGCO Corp. reported net sales of $1,579 million for the first quarter of 2009, compared to $1,786.6 million for the first quarter of 2008.
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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.