TITN

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"Gross profit for the third quarter increased 54% to $20 million, compared to $13 million in the prior year.  
   
   
Approximate Financial Snapshot as of 3/11/08
Shares Outstanding 13.4M
52 Wk Hi/Lo 21.42/

11.50

Market Cap $213.2M
Recent Price $15.95

 

 

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3/11/08

Titan Machinery (TITN)

Website: www.TitanMachinery.com

Operates a network of 39 full service stores and two outlet stores


Overview

Titan Machinery (Nasdaq: TITN) owns and operates a network of full service agricultural and construction equipment stores in the United States. It operates as the retail dealer of Case IH Agriculture equipment and New Holland agriculture, case construction, and construction equipment.

The company also sells and rents agricultural and construction equipment, sells parts, and serves the equipment operating in the areas surrounding its stores. Its sells and services various agricultural equipment, including application equipment and sprayers, combines and attachments, hay and forage equipment, planting and seeding equipment, precision farming technology, tillage equipment, and tractors.

The company also offers various construction equipment, such as articulated trucks, compact track loaders, compaction equipment, cranes, crawler dozers, excavators, forklifts, loader/backhoes, loader/tool carriers, motor graders, skid steer loaders, telehandlers, and wheel loaders for use commercial and residential construction, road and highway construction, and mining applications.

Its customers include farmers, construction contractors, public utilities, municipalities, and maintenance contractors. The Company currently operates a network of 39 full service stores and two outlet stores located in the upper Midwest.


TITN Investor Highlights

  • Recently announced that it has acquired Ceres Equipment Inc., a farm equipment dealership of CaseIH and New Holland brands in Roseau, MN.
  • Announced third quarter, revenue increased 67% to $132 million from $79 million.
  • Gross profit for the third quarter increased 54% to $20 million, compared to $13 million in the prior year.
  • Operating income for the third quarter was $6.0 million compared to $2.8 million in the same period a year ago.
  • Net income for the third quarter was $2.7 million, or $0.36 per diluted share, versus net income of $0.8 million, or $0.13 per diluted share, for the third quarter last year.
  • For the nine months ended October 31, 2007, revenue increased $89.2 million, or 42.8%, to $297.8 million from revenue of $208.6 million in the same period last year. Net income was $4.9 million, or $0.72 per diluted share, for the period, compared to net income of $2.3 million, or $0.36 per diluted share, in the same period last year.
  • The Company currently anticipates revenue for the fourth quarter to increase by approximately 50% to 60%, as compared to the same period a year ago, to $127 million to $135 million. Earnings per diluted share for the fourth quarter are expected to be in the range of $0.01 to $0.03 per diluted share, which includes one-time IPO-related debt conversion and retirement costs of $3.8 million or $0.20 per diluted share. Excluding these costs, the Company expects earnings per diluted share to be in the range of $0.21 to $0.23.
  • Announced that it has acquired Avoca Implement and Greenfield Implement, two CaseIH farm equipment dealerships in Southwest Iowa.

Recent News and Press Releases

Titan Machinery Inc. Announces Fiscal Fourth Quarter and Full Year 2008 Results

Titan Machinery Acquires Dealership; Ceres Equipment Inc.

Titan Machinery Inc. Announces Fiscal Third Quarter 2008 Results for the Period Ended October 31, 2007

Titan Machinery Acquires Two Dealerships in Iowa: Avoca Implement & Greenfield Implement

For the latest Quote and News on TITN Click Here.


Three Month Chart




Contacts

Titan Machinery

4876 Rocking Horse Circle
Fargo, ND 58104
Phone: 701-356-0130
Fax: 701-356-0139


SEC Filings

TITN filings with the SEC can be found here. All Fillings are current and the Company is fully reporting.


Disclaimer

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