Google PlusLinkedINYouTube

ART’S WAY MANUFACTURING CONTINUES TO GROW PRODUCT LINE BY OFFERING NEW 16 FOOT PULL TYPE GRADER BLADE

FOR IMMEDIATE RELEASE For More Information, Contact:
March 10, 2010 Jim Drewitz, Public Relations
830-669-2466

16 Foot Is A New Model To The Current Lineup Of Pull Type Graders

 

ARMSTRONG, Iowa, March 10, 2010 – Art’s Way Manufacturing, Inc. (NASDAQ: ARTW), a leading manufacturer and distributor of niche agricultural machinery, equipment and services, is pleased to announce the Company is expanding their industry leading pull type graders by adding a 16 foot blade to their lineup of 9’, 12’ and 14’ models. The new 16’ blade will be available approximately May 1, 2010. The Company is taking orders now.

 

Standard features include: 16 foot blade, 15 degree blade tilt for slop cuts, 42 degree blade angle with blade swing, 15” ground clearance, 30 “ blade height, replaceable high carbon steel cutting edge, 4 hydraulic cylinders and hoses, 3 hydraulic tractor valves (angle, tilt, raise), swivel hitch, 11L X 15 tires, 6- bolt hubs, box scraper ends, weight box and storage parking jack.

 

J. Ward McConnell, Jr., Chairman of the Board, said, “We are pleased to announce we have expanded our robust product line with the introduction of this new 16 foot grader blade. In the past couple of years we have been aggressive introducing new products and we look forward to building on the strength of the Art’s Way brand throughout 2010. We remain committed to staying alert and responsive to the needs and requests of our consumers. I know our dealers will be very excited to offer to their customers this new 16 foot addition to our line of pull type graders.”

 

About Art’s Way Manufacturing, Inc.

 

Art’s Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment, manure spreaders and top and bottom drive augers. After market, service parts are also an important part of the Company’s business. We have two wholly owned subsidiaries. Art’s Way Vessels Inc. manufactures pressurized tanks and vessels; Art’s Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.

 

For More Information, Contact:         Jim Drewitz, Investor Relations

830-669-2466

Or visit the Company’s website at  www.artsway-mfg.com

This news release includes “forward-looking statements” within the meaning of the federal securities laws. Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company’s products, domestic and international economic conditions, the management of growth and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ markedly from management’s expectations. The Company cautions readers not to place undue reliance upon any such forward-looking statements.

 

-END-

Art’s Way Manufacturing Announces Acquisition Completion of Manure Spreader Product Line of Roda Manufacturing

FOR IMMEDIATE RELEASE
January 20, 2010
News

 

ARMSTRONG, Iowa, January 20, 2010 – Art’s Way Manufacturing, Inc. (NASDAQ: ARTW), a leading manufacturer and distributor of niche agricultural machinery, equipment and services, is pleased to announce the Company completed the previously announced acquisition of the manure spreader product line of Roda Manufacturing, Inc., Hull, Iowa. www.rodamfg.com. At closing, Art’s Way Manufacturing paid approximately $1,189,000.

The product line includes The H Series – a non-commercial, high quality, low maintenance pull-type manure spreader that comes in 400, 600 and 800 bushels. The V Series – a commercial spreader with removable vertical beaters, adjustable apron speed and a reversible apron. The HV Series – combines the best of both the H and V Series. These units are rugged, reliable and available in 20′, 22′ and 24′ box length with either horizontal or vertical beater options. They also feature a durable one-piece frame design and a triple apron.

J. Ward McConnell, Jr., Chairman of the Board, said, “Our entire team is extremely pleased to complete this product line acquisition because we believe it will be earnings accretive immediately, hold a compelling valuation, is an outstanding fit with our industry leading forage equipment and is a key element in our ‘roll-up strategy’. This vertical acquisition allows us to expand and round out our product line, improve our niche manufacturing leadership position, build our asset base for revenue growth and increase shareholder value. I know our dealers will be very excited to be able to offer this outstanding line of manure spreaders to their customers.”

About Art’s Way Manufacturing, Inc.

Art’s Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers.  After market service parts are also an important part of the Company’s business.  We have two wholly owned subsidiaries.  Art’s Way Vessels Inc. manufactures pressurized tanks and vessels; Art’s Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.

 

For More Information, Contact:         Jim Drewitz, Investor Relations

830-669-2466

Or visit the Company’s website at  www.artsway-mfg.com

This news release includes “forward-looking statements” within the meaning of the federal securities laws.  In this release, forward-looking statements generally relate to: (i) the Company’s ability to meet its production schedule; (ii) the Company’s intent to focus on driving revenue, controlling costs and strengthening its balance sheet; (iii) the expected impact of worldwide economic conditions; and (iv) intent to monitor market opportunities; and (vi) the Company’s growth potential in its industry.  Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company’s products and acceptance of its product lines, current domestic and international economic conditions, the Company’s ability to manage growth, incorrect assumptions by management with respect to production cycles and market conditions, unexpected production delays and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings.  Actual results may differ markedly from management’s expectations.  The Company cautions readers not to place undue reliance upon any such forward-looking statements.

-END-

ART’S-WAY MANUFACTURING ANNOUNCES CONTRACT FOR MODULAR SWINE FACILITY FOR THE UNIVERSITY OF GEORGIA

FOR IMMEDIATE RELEASE
November 16, 2009
News

ARMSTRONG, Iowa, November 16, 2009 – Art’s Way Manufacturing, Inc. (NASDAQ: ARTW), announces its wholly owned subsidiary, Art’s Way Scientific, Inc. – Buildings For Science – will be providing 6 modular swine facilities for breeding, gestation, farrowing, nursery and finisher operations. The complex will be used to train undergraduate and graduate students in all aspects of swine production. Research projects will include trials on nutrition, physiology and meat quality. The contract is valued at approximately $1.3 million.

The facility, developed for the University of Georgia in association with the Office of University Architects and Department of Animal & Dairy Sciences, will have some unique environmental features. Methane gas generated on-site will be used to fire the boilers that treat animal wastes and minimize odors. Exhaust fans are being connected to a biofilter in order to increase air quality. Rain water will be captured and reused to help keep the animal buildings clean. Waste water from the process will be spread on adjoining fields for irrigation.

Dan Palmer, General Manager of Art’s Way Scientific said, “We are very pleased to have been awarded this contract. With swine, specific attention needs to be paid to the management of effective environmental conditions, cleanable surfaces ventilation, animal pens, manure management and the quantity and quality of food and water. Our unique and modular designs address all of these key issues.”

J. Ward McConnell, Jr., Executive Chairman of the Board, said, “I am gratified Art’s Way Scientific’s design, manufacturing, pricing and customer service was evaluated and chosen to construct this innovative research center. With this order and other opportunities we are bidding on, we are confident Art’s Way Scientific will continue to contribute to the Company’s overall revenue and income growth in 2009 and beyond. We continue to focus on exceeding our customers’ expectations and increasing shareholder value.”

About Art’s-Way Scientific, Inc. Buildings for Science:

Art’s Way Scientific, Inc. is a wholly owned subsidiary of Art’s Way Manufacturing, Inc. It is the recognized leading supplier of modular laboratories for biocontainment, animal science, public health and security requirements. Art’s Way Scientific custom designs, manufactures, delivers, and installs laboratories and research facilities to meet customers’ critical requirements.

About Art’s-Way Manufacturing, Inc.

Art’s Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers.  After market service parts are also an important part of the Company’s business.  We have two wholly owned subsidiaries.  Art’s Way Vessels Inc. manufactures pressurized tanks and vessels; Art’s Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.

For More Information, Contact:         Jim Drewitz, Investor Relations

830-669-2466

Or visit the Company’s website at  www.artsway-mfg.com

This news release includes “forward-looking statements” within the meaning of the federal securities laws.  In this release, forward-looking statements generally relate to: (i) the Company’s ability to meet its production schedule; (ii) the Company’s intent to focus on driving revenue, controlling costs and strengthening its balance sheet; (iii) the expected impact of worldwide economic conditions; and (iv) intent to monitor market opportunities; and (vi) the Company’s growth potential in its industry.  Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company’s products and acceptance of its product lines, current domestic and international economic conditions, the Company’s ability to manage growth, incorrect assumptions by management with respect to production cycles and market conditions, unexpected production delays and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings.  Actual results may differ markedly from management’s expectations.  The Company cautions readers not to place undue reliance upon any such forward-looking statements.

-END-

ART’S-WAY MANUFACTURING TO ACQUIRE MANURE SPREADER PRODUCT LINE OF RODA MANUFACTURING

FOR IMMEDIATE RELEASE
October 23, 2009
News

 

ARMSTRONG, Iowa, October 12, 2009 – Art’s Way Manufacturing, Inc. (NASDAQ: ARTW), a leading manufacturer and distributor of agricultural machinery, equipment, and services, is pleased to announce the Company has signed a letter of intent to acquire the manure spreader product line of Roda Manufacturing, Inc., Hull, Iowa. www.rodamfg.com.

The product line includes The H Series – a non-commercial, high quality, low maintenance pull-type manure spreader that comes in 400, 600 and 800 bushels. The V Series – a commercial spreader with removable vertical beaters, adjustable apron speed and a reversible apron. The HV Series – combines the best of both the H and V Series. Rugged, reliable and available in 20’, 22’ and 24’ box length with either horizontal or vertical beater options. It also features a durable one-piece frame design and a triple apron.

The acquisition is anticipated to close not later than January 5, 2010.

J. Ward McConnell, Jr., Chairman of the Board, said, “This product line acquisition candidate absolutely fits Art’s Ways business model, which has the objective of completing strategic and vertical acquisitions that allows us to expand our product line, improve our niche manufacturing leadership position, build our asset base for revenue growth and increase shareholder value. I know our dealers will be very excited to be able to offer this outstanding line of manure spreaders to their customers.”

About Art’s Way Manufacturing, Inc.

Art’s Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers.  After market service parts are also an important part of the Company’s business.  We have two wholly owned subsidiaries.  Art’s Way Vessels Inc. manufactures pressurized tanks and vessels; Art’s Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.

For More Information, Contact:         Jim Drewitz, Investor Relations

830-669-2466

Or visit the Company’s website at  www.artsway-mfg.com

This news release includes “forward-looking statements” within the meaning of the federal securities laws.  In this release, forward-looking statements generally relate to: (i) the Company’s ability to meet its production schedule; (ii) the Company’s intent to focus on driving revenue, controlling costs and strengthening its balance sheet; (iii) the expected impact of worldwide economic conditions; and (iv) intent to monitor market opportunities; and (vi) the Company’s growth potential in its industry.  Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company’s products and acceptance of its product lines, current domestic and international economic conditions, the Company’s ability to manage growth, incorrect assumptions by management with respect to production cycles and market conditions, unexpected production delays and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings.  Actual results may differ markedly from management’s expectations.  The Company cautions readers not to place undue reliance upon any such forward-looking statements.

-END-

ART’S-WAY MANUFACTURING ANNOUNCES FINANCIAL RESULTS FOR THIRD QUARTER AND NINE MONTHS

FOR IMMEDIATE RELEASE
October 12, 2009
News

 

Conference Call Scheduled for 9:00 AM Central Time, Wednesday, October 14, 2009

ARMSTRONG, Iowa, October 12, 2009 – Art’s Way Manufacturing, Inc. (NASDAQ: ARTW), a leading manufacturer and distributor of agricultural machinery, equipment, and services announced its financial results for the three and nine months ended August 31, 2009.

In conjunction with the release, the Company has scheduled a conference call Wednesday, October 14, 2009 at 9:00 AM Central Time.

What: Art’s-Way Manufacturing Third Quarter & Nine Months Financial Results Conference Call

When: Wednesday, October 14, 2009 – 9:00 AM Central Time

How: Live via phone by dialing 1 (800) 624-7038. Code: Art’s-Way Manufacturing.  Participants to the conference call should call in at least 5 minutes prior to the start time.

J. Ward McConnell, Jr., Executive Chairman of the Board of Directors of Art’s-Way Manufacturing, will be leading the call and discussing third quarter and nine month financial results, the status of the Company and an outlook for the balance of 2009.

Financial Highlights For the Three and Nine Months Ended August 31, 2009:

  • Net sales for the three months ended August 31, 2009 were $5.6 million.
  • Net sales for the nine months ended August 31, 2009 were $19.4 million.
  • As of September 2009, order backlog is $6.2 million.

 

For the Three Months Ended
August 31, 2009 August 31, 2008 Change
Revenue $5,600,464      $9,420,696 -40.6%
Operating Income $213,169      $870,484 -75.5%
Net Income $67,725      $538,389 -87.4%
EPS (Basic) $0.02      $0.14 -85.7%
EPS (Diluted) $0.02      $0.13 -84.6%
Weighted avg. shares outstanding:
Basic 3,990,352      3,972,548
Diluted 3,999,950      3,989,880
For the Nine Months Ended
August 31, 2009 August 31, 2008 Change
Revenue $19,406,975      $23,855,763 -18.6%
Operating Income $602,033      $2,723,604 -77.9%
Net Income $181,238      $1,904,275 -90.5%
EPS (Basic) $0.05      $0.48 -89.6%
EPS (Diluted) $0.05      $0.48 -89.6%
Weighted avg. shares outstanding:
Basic 3,987,856      3,971,676
Diluted 3,989,623      3,994,024

Revenue: Our consolidated net sales for the nine-month period ended August 31, 2009 were $19,407,000 compared to $23,856,000 for the same period in fiscal 2008.  Consolidated net sales for the three-month period ended August 31, 2009 were $5,600,000 compared to $9,421,000 for the same period in fiscal 2008.

Art’s-Way Manufacturing, our agricultural products segment, had net sales of approximately $4,993,000 and $15,868,000 for the three- and nine-month periods ended August 31, 2009, respectively, compared to $6,685,000 and $15,878,000 for the same respective periods in fiscal 2008, which represents a decrease of 25.3% and 0.1%, respectively.  The three-month and nine-month decrease in sales for Art’s-Way Manufacturing was largely due to the decreased sales of sugar beet harvesters and grinder mixers.  This decrease, however, was partially offset by the sales from the Miller Pro products, and also the sales of augers, which we started producing in the current fiscal year.

Art’s-Way Vessels, our pressurized vessels segment, had net sales of approximately $242,000 and $616,000 for the three- and nine-month periods ended August 31, 2009, respectively, compared to $25,000 and $228,000 for the same respective periods in fiscal 2008, which represents an increase of 868.0% and 170.2%, respectively.  This was an expected increase due to the ongoing process of rebuilding sales that were lost during the period after the termination of our lease.

Art’s-Way Scientific, our modular buildings segment, had net sales of approximately $366,000 and $2,923,000 for the three- and nine-month periods ended August 31, 2009, respectively, compared to $2,711,000 and $7,750,000 for the same respective periods in fiscal 2008.  The decrease in net sales for Art’s-Way Scientific was the result of engineering delays during the second and third quarter and, more significantly, a decrease in demand for modular buildings, which management believes was largely due to the impact of current economic conditions on the capital budgets of potential customers.

Gross Profit: Consolidated gross profit margin for the three- and nine-month periods ended August 31, 2009 was 23.2% and 21.1%, respectively, compared to 23.4% and 28.6% for the same respective periods in the 2008 fiscal year, primarily due to decreases in gross profit margin at Art’s-Way Manufacturing and Art’s-Way Scientific.  The gross profit margin of Art’s-Way Manufacturing increased from 26.1% to 31.0% in the three-month period ending August 31, 2008 compared to the same period in 2009, but decreased to 24.4% from 31.4% in the nine-month period ending August 31, 2009 compared to the same period in 2008, primarily due to pricing commitments in effect during the first and second quarter.  After the purchase of the Miller Pro product line, we had many orders that we were unable to produce in a timely fashion.  In order to satisfy our customers, we agreed to sell these goods at the lower prices quoted in 2007.  As a result of our production delays caused by the integration of this product line, we shipped goods in the first and second quarters of 2009 that were priced at the end of 2007 and manufactured with materials purchased at the higher prices of 2008.  We have completed our commitments on the 2007 pricing, and do not anticipate any additional production delays.

The gross profit margin of Art’s-Way Vessels increased from -640.0% and -159.2% in the three- and nine-month periods ended August 31, 2008 to 5.0% and -21.3% for the same respective periods in 2009.  This increase was due to our increased sales, which help defray the fixed manufacturing expenses, such as depreciation and manufacturing overhead.  The gross profit margin of Art’s-Way Scientific decreased from 27.1% and 28.4% in the three- and nine–month periods ended August 31, 2008, respectively, to -70.5% and 2.5% for the same respective periods in 2009.  The decrease in gross profit margin at Art’s-Way Scientific was primarily due to the decrease in revenue explained above.  In addition, gross profit margins at Art’s-Way Scientific were negatively impacted during the first and second quarter by unanticipated cost overruns on a project that was substantially completed during the third quarter.

Earnings Per Share:  Earnings per diluted share for the three months ended August 31, 2009 decreased to $0.02 as compared to $0.13 for the three months ended August 31, 2008, a decrease of 84.6% or $0.11. Earnings per share basic and diluted share for the nine months ended August 31, 2009 decreased 89.6% from $0.48 for the nine-month period ended August 31, 2008 to $0.05 for the nine-month period ended August 31, 2009.

J. Ward McConnell Jr., Executive Chairman of the Board of Directors said, “This has been a mixed quarter and nine months. We had improvements with Vessels and Augers but government grants have not come through, as yet, to stimulate new orders for Scientific.  The broad based economic downturn has had a serious impact on our top and bottom lines.  Additionally, since any improvements appear to be slow and uncertain, we expect the economic conditions to continue to adversely affect earnings throughout our fiscal year.

“Our top priorities for the remainder of the year remain unchanged.  We will continue to work hard to rein in costs, right-size our businesses and improve our sales pipeline.  As we look ahead, while the recovery may be slow and uneven, our continued focus will be on driving revenue, controlling costs and strengthening our balance sheet which will position us to take advantage of the coming economic recovery.”

About Art’s Way Manufacturing, Inc.

Art’s Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers.  After market service parts are also an important part of the Company’s business.  We have two wholly owned subsidiaries.  Art’s Way Vessels Inc. manufactures pressurized tanks and vessels; Art’s Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.

For More Information, Contact:         Jim Drewitz, Investor Relations

830-669-2466

Or visit the Company’s website at  www.artsway-mfg.com

This news release includes “forward-looking statements” within the meaning of the federal securities laws.  In this release, forward-looking statements generally relate to: (i) the Company’s ability to meet its production schedule; (ii) the Company’s intent to focus on driving revenue, controlling costs and strengthening its balance sheet; (iii) the expected impact of worldwide economic conditions; and (iv) intent to monitor market opportunities; and (vi) the Company’s growth potential in its industry.  Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company’s products and acceptance of its product lines, current domestic and international economic conditions, the Company’s ability to manage growth, incorrect assumptions by management with respect to production cycles and market conditions, unexpected production delays and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings.  Actual results may differ markedly from management’s expectations.  The Company cautions readers not to place undue reliance upon any such forward-looking statements.

-END-

ART’S-WAY MANUFACTURING ANNOUNCES $3 MILLION CONTRACT FOR MODULAR BUILDING COMPLEX FOR CANCER RESEARCH FOUNDATION

FOR IMMEDIATE RELEASE
October 9, 2009
For More Information, Contact:
Jim Drewitz, Investor Relations
830-669-2466

 

Company Will Design, Manufacture, and Install for Prime Contractor, Lockard Construction, Inc.

ARMSTRONG, Iowa, October 9, 2009 – Art’s Way Manufacturing, Inc. (NASDAQ: ARTW), announces its wholly owned subsidiary, Art’s Way Scientific, Inc. www.buildingsforscience.com will be providing design, manufacturing and installation of a 6,000 sq. ft. two story laboratory and office building for Lockard Construction, Inc. www.lockardonline.com who is the prime contractor on this complex for a well known, nationally respected cancer research center. The contract is valued at approximately $3 million.

Dan Palmer, General Manager of Art’s Way Scientific said, “We are very pleased to be associated with this prestigious cancer research institute. This site will be the center of an intensive new effort to bring together nonprofit partners; working side-by-side, utilizing technological resources second to none, to more rapidly translate the latest genetic and molecular discoveries about cancer into effective new treatments that benefit cancer patients.

“This is the second project we have completed for Lockard Construction. The first project was a 9,000 sq. ft. research facility we completed in 2008. “

J. Ward McConnell, Jr., Executive Chairman of the Board, said, “We are gratified to be working again with Lockard Construction on this important program. Art’s Way Scientific’s combined experience and performance record with this renown cancer research center is proof our contribution is critical to their mission of discovering effective new treatments.”

About Art’s Way Manufacturing, Inc.

Art’s Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers. After market service parts are also an important part of the Company’s business. We have two wholly owned subsidiaries. Art’s Way Vessels Inc. manufactures pressurized tanks and vessels; Art’s Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.

For More Information, Contact:         Jim Drewitz, Investor Relations

830-669-2466

Or visit the Company’s website at  www.artsway-mfg.com

This news release includes “forward-looking statements” within the meaning of the federal securities laws. Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company’s products, domestic and international economic conditions, the management of growth and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ markedly from management’s expectations. The Company cautions readers not to place undue reliance upon any such forward-looking statements.

-END-

ART’S-WAY MANUFACTURING STRENGTHENS SENIOR MANAGEMENT TEAM

FOR IMMEDIATE RELEASE
September 21, 2009
For More Information, Contact:
Jim Drewitz, Investor Relations
830-669-2466

 

Appoints Roger Murdock As Director Of Sales & Marketing

ARMSTRONG, Iowa, September 21, 2009 – Art’s Way Manufacturing, Inc. (NASDAQ: ARTW), a leading manufacturer and distributor of niche agricultural machinery, equipment and services, is pleased to announce the Company has hired Roger S. Murdock as Director of Sales & Marketing.

Murdock brings more than 30 years of sales, customer support and marketing experience in the agricultural and farm equipment industry. His leadership will further enhance Art’s Way Manufacturing strategy to provide niche farm machinery products with a superior customer experience. He will be responsible for maximizing all the diverse product offerings of Art’s Way into an easy and profitable distribution through the current and an expanded dealer network.

Murdock was formerly Division Manager with Claas of America where he was responsible for operations, customer support, sales, and marketing. Prior to that position, Murdock spent 10 years with Miller St. Nazianz as Vice President of Sales and Marketing. During his time with Miller St. Nazianz, he significantly increased sales productivity, contributing to substantial growth in business and enterprise revenue. Murdock sits on the Board of Directors of the Farm Equipment Manufacturers Association.

J. Ward McConnell, Jr., Executive Chairman of the Board, said, “Roger is a proven leader with considerable experience developing strong customer-focused sales organizations. We all look forward to the benefits Roger’s dedication to customer-centric values and teamwork will bring to Art’s-Way, our dealers and their customers.”

Roger Murdock commented, “In the current economic times dealers are looking for a way to increase income within their dealerships and Art’s-Way will provide the products to increase a dealer’s niche market opportunities. I am extremely pleased to be joining an organization with such a long and storied history as Art’s Way. The diverse and unique products which Art’s Way manufactures makes this a wonderful opportunity.”

About Art’s Way Manufacturing, Inc.

Art’s Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers. After market service parts are also an important part of the Company’s business. We have two wholly owned subsidiaries. Art’s Way Vessels Inc. manufactures pressurized tanks and vessels; Art’s Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.

For More Information, Contact:         Jim Drewitz, Investor Relations

830-669-2466

Or visit the Company’s website at  www.artsway-mfg.com

This news release includes “forward-looking statements” within the meaning of the federal securities laws. Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company’s products, domestic and international economic conditions, the management of growth and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ markedly from management’s expectations. The Company cautions readers not to place undue reliance upon any such forward-looking statements.

-END-

ART’S WAY MANUFACTURING EXPANDS MANUFACTURING FACILITY TO PROVIDE STORAGE CAPACITY FOR SMALL RUN, SEASONAL FARM EQUIPMENT

FOR IMMEDIATE RELEASE                                  

August 17, 2009

For More Information,
Contact:
Jim Drewitz, Investor Relations

830-669-2466

The New Space Will Create A More
Efficient “Current Build” Product Line

 

ARMSTRONG, Iowa, August 17,
2009
– Art’s Way
Manufacturing, Inc. (NASDAQ: ARTW), a leading manufacturer and distributor of
niche agricultural machinery, equipment and services, is pleased to announce
the Company has increased the size of their manufacturing facility in
Armstrong, IA by over 9,000 sq. ft. The new space  will house raw materials,
pieces and parts used for manufacturing small run and seasonal farm equipment,
clearing the production floor and manufacturing lines for a more efficient
operation of products that are currently being produced.

The Company has also added
warehouse space in Bath, New York to distribute the Miller Pro line. In 2008,
the Miller Pro line did $ 2.8 million in sales to the Northeast and East Coast.
This warehouse space, in a
key market area, will allow the Company to ship full truckloads on the long
haul eastbound, making Art’s Way more competitive from a total cost-to-dealer
perspective.

J.
Ward McConnell, Jr., Executive Chairman of the Board, said,
“From our beginning, we
have manufactured quality, reliable farm machinery and were dedicated to
customer service. Today, in this economic turbulent period, our differentiator
is customer service.
To
better serve our customers, we added space to accommodate the increasing demand
for small run, seasonal equipment, while clearing the production lines for
“current build” products. We are now in a position to respond quickly to those
seasonal customer demands without disrupting the flow of our current build
products.

 

“With
the warehouse space added in the Northeast, we can now have
standing inventory on-hand for the
dealers to pull from which should unquestionably help sales, revenue and
customers service.

 

“With
the Company’s manufacturing strength, the skill of our employees and our
dedication to customer service, I am confident we will continue respond to our
customers specific needs and drive growth quarter after quarter.”

 

About Art’s Way Manufacturing, Inc.

 

Art’s Way manufactures and distributes
farm machinery niche products including animal feed processing equipment, sugar
beet defoliators and harvesters, land maintenance equipment, crop shredding
equipment, plows, hay and forage equipment and top and bottom drive augers.
After market service parts are also an important part of the Company’s
business. We have two wholly owned subsidiaries. Art’s Way Vessels Inc.
manufactures pressurized tanks and vessels; Art’s Way Scientific Inc.
manufactures modular animal confinement buildings and modular laboratories.

 

For More Information,
Contact:  Jim Drewitz, Investor Relations

830-669-2466 jim@jdcreativeoptions.com

 

Or visit the Company’s
website at www.artsway-mfg.com

 

This news release includes
“forward-looking statements” within the meaning of the federal
securities laws. Statements of anticipated future results are based on current
expectations and are subject to a number of risks and uncertainties, including
but not limited to, quarterly fluctuations in results, customer demand for the
Company’s products, domestic and international economic conditions, the
management of growth and other risks detailed from time to time in the
Company’s Securities and Exchange Commission filings. Actual results may differ
markedly from management’s expectations. The Company cautions readers not to
place undue reliance upon any such forward-looking statements.

-END-

Art’s-Way Manufacturing Announces Global Sales Continue to Grow

FOR IMMEDIATE RELEASE

July 22, 2009

For More Information, Contact:

Jim Drewitz, Investor Relations830-669-2466

ART’S WAY MANUFACTURING ANNOUNCES GLOBAL SALES CONTINUE TO GROW

 

The Company’s 5165 Grinder-Mixer Shipped To Distributors in United Kingdom & Australia

 

ARMSTRONG, Iowa, July 22, 2009 – Art’s Way Manufacturing, Inc. (NASDAQ: ARTW), a leading manufacturer and distributor of niche agricultural machinery, equipment and services, is pleased to announce the Company’s popular and reliable 5165 Grinder-Mixer has been shipped to distributors in the United Kingdom and Australia. Theses are repeat sales to existing distributors and their customers.

J. Ward McConnell, Jr., Executive Chairman of the Board, said, “Even in a world-wide economic depression, we are very pleased our global sales remain quite active. Our Grinder-Mixer is not just the largest in the industry, it’s also the best. The portable 5165 Grinder-Mixer features a tremendous 165-bushel tank with a one-piece 26-inch hammermill. This 4-ton mixer is easily configured to meet the needs of specific livestock operation. In this day of global marketing, our family of products and the way we service our customers offer huge growth opportunities for the future and we believe will certainly increased shareholder value.”

 

About Art’s Way Manufacturing, Inc.

Art’s Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers. After market service parts are also an important part of the Company’s business. We have two wholly owned subsidiaries. Art’s Way Vessels Inc. manufactures pressurized tanks and vessels; Art’s Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.

 

For More Information, Contact: Jim Drewitz, Investor Relations

830-669-2466 jim@jdcreativeoptions.com

 

Or visit the Company’s website at www.artsway-mfg.com

 

This news release includes “forward-looking statements” within the meaning of the federal securities laws. Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company’s products, domestic and international economic conditions, the management of growth and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ markedly from management’s expectations. The Company cautions readers not to place undue reliance upon any such forward-looking statements.

-END-

ART’S WAY MANUFACTURING ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER AND SIX MONTHS

FOR IMMEDIATE RELEASE NEWS

July 7, 2009

NASDAQ:ARTW

ART’S WAY MANUFACTURING ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER
AND SIX MONTHS

 

Conference Call Scheduled For 9:00AM CDT,
Wednesday, July 8, 2009

 

ARMSTRONG, IOWA, July 7, 2009 – Art’s Way Manufacturing Co., Inc., (NASDAQ:ARTW) a
leading manufacturer and distributor of agricultural machinery, equipment and
services announced its financial results for the three and six months ended May
31, 2009.  

In conjunction with the release, the Company has
scheduled a conference call Wednesday, July 8, 2009 at 9:00 AM Central Daylight
Time.

What: Art’s Way Manufacturing Second Quarter & Six
Months Financial Results Conference Call

When: Wednesday, July 8, 2009 – 9:00 AM Central Daylight Time

How: Live via phone by dialing 1 (800) 624-7038. Code:
Art’s Way Manufacturing.  Participants to the conference call should call
in at least 5 minutes prior to the start time.

J.
Ward McConnell, Jr., Executive Chairman of the Board of Directors of Art’s Way Manufacturing
will be leading the call and discussing second quarter and six month financial
results, the status of the Company and an outlook for the balance of 2009.

 

Financial Highlights
For the Three And Six Months Ended May 31, 2009:

  • Net sales
    for the three months ended May 31, 2009 were $7.1 million.
  • Net sales
    for the six months ended May 31, 2009 were $13.8 million.
  • As of
    June 2009, order backlog is $10.5 million, compared to $20.5 million in
    June 2008.

 

 

For the Three Months
Ended

 

 

May 31, 2009

May 31, 2008

Change

Revenue

$

7,115,645

$

7,686,553

-7.4%

Operating Income

$

291,227

$

1,039,195

-72.0%

Net Income

$

112,918

$

889,045

-87.3%

EPS (Basic)

$

0.03

$

0.22

-86.4%

EPS (Diluted)

$

0.03

$

0.22

-86.4%

Weighted avg. shares outstanding:

 

 

 

 

 

Basic

 

3,986,830

 

3,972,352

 

Diluted

 

3,989,086

 

3,984,908

 

 

 

 

 

 

 

 

 

For the Six Months
Ended

 

 

May 31, 2009

May 31, 2008

Change

Revenue

$

13,806,511

$

14,435,067

-4.4%

Operating Income

$

388,864

$

1,853,120

-79.0%

Net Income

$

116,513

$

1,365,886

-91.5%

EPS (Basic)

$

0.03

$

0.34

-91.2%

EPS (Diluted)

$

0.03

$

0.34

-91.2%

Weighted avg. shares outstanding:

 

 

 

 

 

Basic

 

3,986,594

 

3,971,238

 

Diluted

 

3,987,198

 

3,990,110

 

 

 

 

 

 

 

 

Revenue: Consolidated net
sales for the fiscal quarter ended May 31, 2009 were $7,116,000 compared to
$7,687,000 for the same period in fiscal 2008. Consolidated net sales for the
six months ended May 31, 2009 were $13,807,000 compared to $14,435,000 for the
same period in fiscal 2008.

Art’s Way Manufacturing, our
agricultural products segment, had revenue of approximately $6,165,000 and $10,874,000
for the three- and six-month periods ended May 31, 2009, respectively, compared
to $5,066,000 and $9,193,000 for the same respective periods in fiscal 2008,
which represents an increase of 21.7% and 18.3%, respectively. The quarter and six-month increase in sales
for Art’s Way Manufacturing was largely due to the sales of forage boxes and
rakes from the Miller Pro product line, which had minimal sales during the
first half of fiscal 2008 due to product integration.

Art’s Way Vessels, our pressurized vessels
segment, had revenue of approximately $226,000 and $375,000 for the three- and
six-month periods ended May 31, 2009, respectively, compared to $90,000 and
$203,000 for the same respective periods in fiscal 2008, which represents an
increase of 151.1% and 84.3%, respectively. This was an expected increase due
to the rebuilding of sales lost after moving to a new facility.

Art’s Way Scientific – Buildings for Science –, our modular
buildings segment, had a decrease of revenue of 71.3% and 49.2% for the three-
and six-month periods ended May 31, 2009, respectively. Art’s Way Scientific had revenue of
approximately $725,000 and $2,558,000 for the three- and six-month periods
ended May 31, 2009, respectively, compared to $2,531,000 and $5,039,000 for the
same respective periods in fiscal 2008. The decrease in revenue for Art’s Way
Scientific was the result of a decrease in demand for modular buildings, which
management believes was largely due to the impact of current economic
conditions on the capital budgets of potential customers.

 

Income: Operating income decreased 72% from $1,039,000 to
$291,000 for the three months ended May 31, 2009, while net income for the
three months ended May 31, 2009 decreased 87.3%, from $889,000 to
$113,000. Operating income for the six
months ended May 31, 2009 decreased 79% from $1,853,000 to $389,000. These
decreases are primarily due to decreased gross margins.

 

Consolidated
gross profit margin for the three- and six-month periods ended May 31, 2009 was
20.6% and 20.2%, respectively, compared to 31.7% and 32.0% for the same respective
periods in the 2008 fiscal year, primarily due to decreases in gross profit
margin at Art’s Way Manufacturing and Art’s Way Scientific. The gross profit margin of Art’s Way
Manufacturing decreased from 34.8% and 36.4% in the three- and six-month
periods ended May 31, 2008, respectively, to 25.7% and 23.9% for the same respective
periods in 2009. After the purchase of
the Miller Pro product line, we had many orders that we were unable to produce
in a timely fashion. In order to satisfy
our customers, we agreed to sell these goods at the lower prices quoted in
2007. As a result of our production
delays caused by the integration of this product line, we shipped goods in the
first and second quarters of 2009 that were priced at the end of 2007 and
manufactured with materials purchased at the higher prices of 2008. We have nearly completed our commitments on
the 2007 pricing, and do not anticipate any additional production delays.

The gross profit
margin of Art’s Way Scientific decreased from 29.6% and 29.1% in the three- and
six–month periods ended May 31, 2008, respectively, to 6.6% and 12.9% for the
same respective periods in 2009. The decrease in gross profit margin at Art’s
Way Scientific was primarily due to the decrease in revenue explained above. In
addition, gross profit margins at Art’s Way Scientific were negatively impacted
during the first and second quarter by unanticipated cost overruns on a project
that was substantially completed during the period.

Earnings Per Share: Earnings per diluted and basic share for the three
months ended May 31, 2009 decreased to $0.03 as compared to $0.22, a decrease
of 86.4% or $0.19 from the earnings per share for the three months ended May 31,
2008. Earnings per share basic and
diluted share for the six months ended May 31, 2009 decreased 91.2% from $0.34
to $0.03.

J. Ward McConnell Jr., Executive Chairman of the
Board of Directors said, “We are very encouraged by the increase in sales of
21.7% for three months and 18.3% for six months, ,
with Art’s Way Manufacturing, our core agricultural product business. Our
Miller Pro line is becoming very well accepted in the market place and, as
promised, we have completed our production delays of the product line and
fulfilled our commitments on 2007 pricing.

 

With
the ramping up of Art’s Way Vessels, we had a significant increase in revenue
for the quarter and six months ended May 31. It was completely expected and
anticipated and we hope to keep this growth progressing.

 

Even
with production and revenue improvement, t
his has been another challenging quarter for the
Company – especially Art’s Way Scientific.
As
we indicated last quarter, we continue to monitor closely our market
opportunities and our operating structure due to the changing and challenging
market conditions. Incoming orders for all divisions, but especially Scientific,
slowed in the first quarter and we have seen a continuation of that trend in
the second quarter. While our quotation levels have increased during the
quarter when compared to the fourth quarter of last fiscal year and first
quarter this year, we have not seen a corresponding increase in our incoming
order rate. Incoming orders continue to be slower than desired due to increased
customer deliberation on the release of new orders pertaining to projects. We
will continue our efforts to expand our served markets and product offerings,
and believe the strength of our historical operating performance, combined with
the excellent positioning of our core products and our new auger product
provides an excellent platform from which to grow once we do see market
recovery.”

 

About Art’s Way
Manufacturing, Inc.

 

Art’s
Way manufactures and distributes farm machinery niche products including animal
feed processing equipment, sugar beet defoliators and harvesters, land
maintenance equipment, crop shredding equipment, plows, hay and forage
equipment
and top and bottom drive
augers.
After market service parts are also an important
part of the Company’s business. We have two wholly owned subsidiaries. Art’s Way
Vessels, Inc. manufactures pressurized tanks and vessels and Art’s Way
Scientific, Inc. manufactures modular animal confinement buildings and modular
laboratories.

 

For More Information,
Contact: Jim Drewitz, Investor Relations

830-669-2466
jim@jdcreativeoptions.com

 

Or
visit the Company’s website at www.artsway-mfg.com/

 

 

This news release includes “forward-looking
statements” within the meaning of the federal securities laws. In this release, forward-looking statements
generally relate to: (i) the Company’s ability to
meet its production schedule; (ii) acceptance of the Company’s Miller Pro
product line; (iii) revenue expectations for Art’s-Way Vessels; (iv) the
Company’s plans to expand its served markets and product offerings; (v) intent
to monitor market opportunities and operating structure; and (vi) the Company’s
growth potential in its industry. Statements of anticipated future results are
based on current expectations and are subject to a number of risks and
uncertainties, including but not limited to, quarterly fluctuations in results,
customer demand for the Company’s products and acceptance of its product lines,
current domestic and international economic conditions, the Company’s ability
to manage growth, incorrect assumptions by management with respect to
production cycles and market conditions, unexpected production delays and other
risks detailed from time to time in the Company’s Securities and Exchange
Commission filings. Actual results may
differ markedly from management’s expectations.

The Company cautions readers not to place undue reliance upon any such
forward-looking statements.

 

 

 

 

Corporate - Art's Way Mfg