Art's Way Mfg http://www.artsway-mfg.com Thu, 11 Feb 2016 19:00:38 +0000 en-US hourly 1 ART’S WAY MANUFACTURING CO., INC. ANNOUNCES SHOW SCHEDULES FOR 2016 http://www.artsway-mfg.com/arts-way-manufacturing-co-inc-announces-show-schedules-for-2016/ Wed, 03 Feb 2016 19:43:09 +0000 http://www.artsway-mfg.com/?p=4979 ARMSTRONG, IOWA, January 28, 2016 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announces its show schedules for our Agricultural Products, Pressure Vessels, Tools, and Modular Buildings divisions for the 2016 season.   Dates Show Division Attending Location […]

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ARMSTRONG, IOWA, January 28, 2016 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announces its show schedules for our Agricultural Products, Pressure Vessels, Tools, and Modular Buildings divisions for the 2016 season.

 

Dates Show Division Attending Location
January 30 – February 3 14th CDC International Biosafety Symposium Modular Buildings Atlanta, GA
February 2 – 4 Iowa Power Farms Show Agricultural and Modular Des Moines, IA
February 9 – 11 World Ag Expo Agricultural and Modular Tulare, CA
February 10 – 11 National Farm Machinery Show Agricultural Products Louisville, KY
February 17 – 19 Texas Branch Meeting Modular Buildings Arlington, TX
February 25 – 27 New York Farm Show Agricultural and Modular Syracuse, NY
March 16 – 17 International Sugarbeet Show Agricultural Products Grand Forks, ND
March 17 – 20 World of Modular Modular Buildings San Diego, CA
April 16 – 18 Industrial Supply Association Tools Chicago, IL
April 20 – 22 LAMA Meeting Modular Buildings Cape Coral, FL
April 29 – May 1 AALAS District 6 Meeting Modular Buildings  
May 24 – 26 2016 Turnkey Conference Modular Buildings Washington DC
June 6 – 9 2016 APHL Conference Modular Buildings Albquerque, NM
June 8 – 10 World Pork Expo Agricultural and Modular Des Moines, IA
June 11 – 14 CALAS 55th Symposium Modular Buildings Toronto, Canada
July 19 – 21 Wisconsin Farm Technology Days Agricultural Products Lake Geneva, WI
August 2 – 4 Minnesota Farmfest Agricultural Products Redwood County, MN
August 3 – 4 North American Manure Expo Agricultural Products London, OH
August 9 – 11 Empire Farm Days Agricultural Products Seneca Falls, NY
August 18 – 20 Ag Progress Days Agricultural Products Penn State
August 30 – September 1 Farm Progress Days Agricultural Products Boone, IA
September 12 – 17 International Manufacturing Technology Show Tools Chicago, IL
September 13 – 15 Canada’s Outdoor Farm Show Agricultural Products Woodstock, Ontario
September 25 – 27 I2SL Annual Conference Modular Buildings Kansas City, MO
September 30 – October 5 ABSA Modular Buildings Grapevine, TX
October 4 – 8 World Dairy Expo Agricultural and Modular Madison, WI
October 17 – 18 Tradeline Animal Research Facilities Modular Buildings Scottsdale, AZ
October 30 – November 3 National AALAS 2016 Modular Buildings Charlotte, NC
November 6 – 10 International Water Conference Pressure Vessels San Antonio, TX

 

Dan Palmer, President of Art’s Way Scientific said “Our number one lead source at Scientific continues to be from trade events and conventions.   The associations that we support through our membership in Public Health, BioSafety, Modular Construction, Animal Laboratory Research and Agriculture continue to show good attendance numbers, so we have elected to attend those that have produced the best results for us.

An added benefit from the conferences is the training and learning opportunities for our staff.   And we are always looking for products to integrate into our buildings from the other vendors exhibiting at these events.”

Glen Parrett, Director of Sales and Marketing of Art’s Way Manufacturing Co., Inc. commented “Trade Shows are a key component to the success of our company and are a powerful platform for product awareness, meeting new customers, reaching out to existing customers and promoting our brand.

Our company has been a staple in the agriculture industry since 1956 and trade shows have been an important aspect of our sales and marketing strategy, therefore, we look forward to the 2016 show season.  We are excited to exhibit our newest innovative products and above all else look forward to the opportunity to connect with customers old and new.”

 

About Art’s Way Scientific, Inc. – Building for Science

Art’s Way Scientific, Inc. is a wholly owned subsidiary of Art’s Way Manufacturing, Inc.  It is recognized leading supplier of modular laboratories for biocontainment, animal husbandry science, public health, and food safety, hog and calf care and security requirements.  Art’s Way Scientific custom designs, manufactures, delivers, and installs laboratories and research facilities to meet customers’ critical requirements.  For more information, visit our website at www.buildingsforscience.com.

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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories and specialty tools and inserts. After-market service parts are also an important part of the Company’s business. The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

For more information, including an archived version of the conference call, contact: Carrie Majeski, Chief Executive Officer

712-864-3131

investorrelations@artsway-mfg.com

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

Cautionary Statements

This news release includes “forward-looking statements” within the meaning of the federal securities laws. Statements made in this release that are not strictly statements of historical facts, including: (i) our expectations regarding the strength of the agricultural and livestock markets; (ii) our expectations regarding future results, product offerings and markets;  and (iii) the benefits of our growth strategy and business model, are forward-looking statements.  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: obstacles related to the integration of our acquired companies; economic conditions that affect demand for our products; the ability of our suppliers to meet our demands for raw materials and component parts; our ability to predict and meet the demands of each market in which our segments operate; our ability to predict and respond to any seasonal fluctuations in demand;  unexpected delays in product launches; the cost of raw materials; and other factors detailed from time to time in our 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.  We do not intend to update forward-looking statements other than as required by law.

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ART’S WAY MANUFACTURING ANNOUNCES CONFERENCE CALL TO REVIEW 2015 FINANCIAL RESULTS http://www.artsway-mfg.com/arts-way-manufacturing-announces-conference-call-to-review-2015-financial-results/ Wed, 03 Feb 2016 19:41:46 +0000 http://www.artsway-mfg.com/?p=4978 Conference Call Scheduled For Wednesday, February 3, 2016 at 10:00 AM CT   ARMSTRONG, IOWA, January 27, 2016 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces a conference call for Wednesday, February 3, 2016 at 10:00 AM CT.  Marc H. McConnell, Chairman of the Board of Directors of Art’s Way Manufacturing, J. Ward McConnell […]

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Conference Call Scheduled For Wednesday, February 3, 2016 at 10:00 AM CT

 

ARMSTRONG, IOWA, January 27, 2016 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces a conference call for Wednesday, February 3, 2016 at 10:00 AM CT.  Marc H. McConnell, Chairman of the Board of Directors of Art’s Way Manufacturing, J. Ward McConnell Jr., Vice Chairman of the Board of Directors of Art’s Way Manufacturing, Carrie Majeski, President and Chief Executive Officer of Art’s Way Manufacturing, and Dan Palmer, President of Art’s Way Scientific will be leading the call to discuss the fiscal 2015 financial results.

 

What: Art’s Way Manufacturing Fiscal 2015 Financial Results

 

When: Wednesday, February 3, 2016 10:00 AM CT

 

How:  Live via phone by dialing (877) 358-7309. Code: Art’s Way Manufacturing. Participants to the conference call should call in at least 5 minutes prior to the start time. A replay of the call will be archived on the Company’s website for 12 months. www.artsway-mfg.com/

 

About Art’s Way Manufacturing Co., 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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories, and specialty tools and inserts. After-market service parts are also an important part of the Company’s business.  The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

 

FOR MORE INFORMATION CONTACT:

Carrie Majeski

President and Chief Executive Officer

Art’s Way Manufacturing Co., Inc.

investorrelations@artsway-mfg.com

Phone:  712-864-3131

 

 

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

-END-

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Art’s Way Manufacturing Announces Third Quarter 2015 Revenue And Earnings http://www.artsway-mfg.com/arts-way-manufacturing-announces-third-quarter-2015-revenue-and-earnings/ Wed, 30 Sep 2015 16:43:12 +0000 http://www.artsway-mfg.com/?p=4965 Conference Call Scheduled For Thursday, October 1st, 2015 at 10:00 AM CT ARMSTRONG, IOWA, September 30, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announces its financial results for the three and nine months ended August 31, […]

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Conference Call Scheduled For Thursday, October 1st, 2015 at 10:00 AM CT

ARMSTRONG, IOWA, September 30, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announces its financial results for the three and nine months ended August 31, 2015.

In conjunction with the release, the Company has scheduled a conference call for Thursday, October 1, 2015 at 10:00 AM CT. Marc H. McConnell, Chairman of the Board of Directors of Art’s Way Manufacturing, J. Ward McConnell, Jr., Vice Chairman of the Board of Directors of Art’s Way Manufacturing, and Carrie Majeski, President and Chief Executive Officer of Art’s Way Manufacturing will be leading the call to discuss the third quarter of 2015 financial results and will also provide an outlook for the balance of 2015.

What: Art’s Way Manufacturing Third Quarter and Year to Date 2015 Financial Results.

When: Thursday, October 1, 2015 10:00 AM CT.

How: Live via phone by dialing (877) 358-7309. Code: Art’s Way Manufacturing. Participants to the conference call should call in at least 5 minutes prior to the start time. A replay of the call will be archived on the Company’s website for 12 months. www.artsway-mfg.com/

For the Three Months Ended
(Consolidated)
 
August 31, 2015 August 31, 2014 Change
Sales $ 6,886,000 $ 11,585,000 -40.6%
Operating Income (Loss) $ (1,004,000) $ 908,000
Net Income (Loss) $ (796,000) $ 558,000
EPS (Basic) $ (0.20) $ 0.14
EPS (Diluted) $ (0.20) $ 0.14
Weighted Average Shares Outstanding:
Basic 4,061,052 4,048,552
Diluted 4,061,052 4,053,129


For the Nine Months Ended
(Consolidated)
 
August 31, 2015 August 31, 2014 Change
Sales $ 21,979,000 $ 27,291,000 -19.5%
Operating Income (Loss) $ (260,000) $ 1,057,000
Net Income (Loss) $ (396,000) $ 553,000
EPS (Basic) $ (0.10) $ 0.14
EPS (Diluted) $ (0.10) $ 0.14
Weighted Average Shares Outstanding:
Basic 4,057,496 4,047,544
Diluted 4,057,496 4,053,152


Sales: Our consolidated corporate sales for the three- and nine-month periods ended August 31, 2015 were $6,886,000 and $21,979,000, respectively, compared to $11,585,000 and $27,291,000 during the same respective periods in 2014, a $4,699,000, or 40.6%, decrease for the quarter and a $5,312,000 or 19.5% decrease year-to-date. The decreases in revenue are primarily due to decreased sales of our agricultural products segments. We are experiencing decreased demand for nearly all agricultural products, but our Universal Harvester reel sales were down nearly 70% during the year-to-date as compared to the prior year. Consolidated gross margin for the three- and nine-month periods ended August 31, 2015 was 18.4% and 25.1%, respectively, compared to 23.3% and 23.4% for the same respective periods in fiscal 2014. The decreased revenue amounts coupled with relatively static fixed costs has put negative pressure on our gross margins both quarterly and year-to-date.

Income: Consolidated net income (loss) was $(796,000) for the three-month period ended August 31, 2015, compared to net income of $558,000 for the same period in 2014. The decrease was primarily due to the decreases in revenue described above and a noncash charge for impairment of the goodwill from our UHC subsidiary, part of the Agricultural Products segment. During the third quarter of fiscal 2015, we evaluated our goodwill for impairment based on economic factors related to that particular product line. As a result of our evaluation, we incurred a noncash impairment charge for the full amount of goodwill associated with our acquisition of the UHC product line of $618,729. The remaining portion of the decreased net income is directly attributable to our decreased sales volume. Consolidated net income (loss) for the nine-month period ended August 31, 2015 was $(396,000) compared to a net income of $553,000 in the same period of 2014. This decrease in income reflects the noncash impairment charge along with decreased operating income across all our segments.

Earnings per Share: Earnings per basic and diluted share for the third quarter ended August 31, 2015 were ($0.20), down from $0.14 from the third quarter of 2014. Earnings per basic and diluted share for the nine months ended August 31, 2015 were ($0.10), compared to $0.14 from the same period in 2014.

Chairman of the Art’s Way Board of Directors, Marc H. McConnell commented, “Our third fiscal quarter of 2015 was challenging to say the least. Several of our business units are experiencing poor market conditions, but most notably in our agricultural products segment. We have implemented various cost cutting measures aimed at scaling our operational size to match the current market conditions. We will continue being proactive in managing through this difficult time. Fortunately, our capital position remains very strong, and we are in the process of adjusting our cost structure in such a way that we will be able to weather the broader agricultural economy’s down cycle without significant degradation of capital until the market improves, however long that may take.

In the meantime, we continue to seek opportunities in the various markets we serve, and have a lot of reason for optimism about projects that may come forth in the months ahead.”

About Art’s Way Manufacturing Co., 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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories and specialty tools and inserts. After-market service parts are also an important part of the Company’s business. The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

For more information, including an archived version of the conference call, contact: Carrie Majeski, Chief Executive Officer

712-864-3131

investorrelations@artsway-mfg.com

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

Cautionary Statements

This news release includes “forward-looking statements” within the meaning of the federal securities laws. Statements made in this release that are not strictly statements of historical facts, including our expectations regarding the impact of our management initiatives and cost-cutting measures, are forward-looking statements. 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 our products; domestic and international economic conditions; factors affecting the strength of the agricultural sector; the cost of raw materials; the management of growth; the availability of investment opportunities; unexpected changes to performance by our operating segments; and other factors detailed from time to time in our 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. We do not intend to update forward-looking statements other than as required by law.

-END-



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Art’s Way Manufacturing Announces Date Change For Conference Call To Review 2015 Third Quarter Financial Results http://www.artsway-mfg.com/arts-way-manufacturing-announces-date-change-for-conference-call-to-review-2015-third-quarter-financial-results/ Fri, 25 Sep 2015 16:50:25 +0000 http://www.artsway-mfg.com/?p=4966 Conference Call Scheduled For Thursday, October 1, 2015 at 10:00 AM CT ARMSTRONG, IOWA, September 25, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces a date change for the quarterly earnings conference call to Thursday, October 1, 2015 at 10:00 AM CT. Marc H. McConnell, Chairman of the Board of Directors of Art’s […]

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Conference Call Scheduled For Thursday, October 1, 2015 at 10:00 AM CT

ARMSTRONG, IOWA, September 25, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces a date change for the quarterly earnings conference call to Thursday, October 1, 2015 at 10:00 AM CT. Marc H. McConnell, Chairman of the Board of Directors of Art’s Way Manufacturing, J. Ward McConnell Jr, Vice Chairman of the Board of Directors of Art’s Way Manufacturing, and Carrie Majeski, President and Chief Executive Officer of Art’s Way Manufacturing will be leading the call to discuss the third quarter of fiscal 2015 financial results and to provide an outlook for the balance of 2015.

What: Art’s Way Manufacturing Third Quarter 2015 Financial Results

When: Thursday, October 1, 2015 10:00 AM CT

How: Live via phone by dialing (877) 358-7309. Code: Art’s Way Manufacturing. Participants to the conference call should call in at least 5 minutes prior to the start time. A replay of the call will be archived on the Company’s website for 12 months. www.artsway-mfg.com/

About Art’s Way Manufacturing Co., 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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories, and specialty tools and inserts. After-market service parts are also an important part of the Company’s business. The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

FOR MORE INFORMATION CONTACT:

Carrie Majeski

President and Chief Executive Officer

Art’s Way Manufacturing Co., Inc.

investorrelations@artsway-mfg.com

Phone: 712-864-3131

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

-END-

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Art’s Way Manufacturing Announces Conference Call To Review 2015 Third Quarter Financial Results http://www.artsway-mfg.com/arts-way-manufacturing-announces-conference-call-to-review-2015-third-quarter-financial-results/ Tue, 22 Sep 2015 15:22:28 +0000 http://www.artsway-mfg.com/?p=4963 Conference Call Scheduled For Monday, September 28, 2015 at 10:00 AM CT ARMSTRONG, IOWA, September 22, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces a conference call for Monday, September 28th, 2015 at 10:00 AM CT. Marc H. McConnell, Chairman of the Board of Directors of Art’s Way Manufacturing, J. Ward McConnell Jr, […]

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Conference Call Scheduled For Monday, September 28, 2015 at 10:00 AM CT

ARMSTRONG, IOWA, September 22, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces a conference call for Monday, September 28th, 2015 at 10:00 AM CT. Marc H. McConnell, Chairman of the Board of Directors of Art’s Way Manufacturing, J. Ward McConnell Jr, Vice Chairman of the Board of Directors of Art’s Way Manufacturing, and Carrie Majeski, President and Chief Executive Officer of Art’s Way Manufacturing will be leading the call to discuss the third quarter of fiscal 2015 financial results.

What: Art’s Way Manufacturing Third Quarter 2015 Financial Results

When: Monday, September 28, 2015 10:00 AM CT

How: Live via phone by dialing (877) 358-7309. Code: Art’s Way Manufacturing. Participants to the conference call should call in at least 5 minutes prior to the start time. A replay of the call will be archived on the Company’s website for 12 months. www.artsway-mfg.com/

About Art’s Way Manufacturing Co., 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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories, and specialty tools and inserts. After-market service parts are also an important part of the Company’s business. The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

FOR MORE INFORMATION CONTACT:

Carrie Majeski

President and Chief Executive Officer

Art’s Way Manufacturing Co., Inc.

investorrelations@artsway-mfg.com

Phone: 712-864-3131

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

-END-




 

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Art’s Way Manufacturing Announces Second Quarter 2015 Revenue And Earnings http://www.artsway-mfg.com/arts-way-manufacturing-announces-second-quarter-2015-revenue-and-earnings/ Tue, 30 Jun 2015 18:30:19 +0000 http://www.artsway-mfg.com/?p=4938 Conference Call Scheduled For Tuesday, June 30th, 2015 at 10:00 AM CT ARMSTRONG, IOWA, June 29, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announces its financial results for the three and six months ended May 31, […]

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Conference Call Scheduled For Tuesday, June 30th, 2015 at 10:00 AM CT

ARMSTRONG, IOWA, June 29, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announces its financial results for the three and six months ended May 31, 2015.

In conjunction with the release, the Company has scheduled a conference call for Tuesday, June 30, 2015 at 10:00 AM CT. Marc H. McConnell, Chairman of the Board of Directors of Art’s Way Manufacturing, J. Ward McConnell, Jr., Vice Chairman of the Board of Directors of Art’s Way Manufacturing, and Carrie Majeski, President and Chief Executive Officer of Art’s Way Manufacturing will be leading the call to discuss the second quarter of 2015 financial results and will also provide an outlook for the balance of 2015.

What: Art’s Way Manufacturing Second Quarter and Year to Date 2015 Financial Results.

When: Tuesday, June 30, 2015 10:00 AM CT.

How: Live via phone by dialing (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. A replay of the call will be archived on the Company’s website for 12 months. www.artsway-mfg.com/

Financial Highlights for the Three and Six Months Ended May 31, 2015

  • Gross margin improved to 28.3% in the second quarter of 2015 from 24.6% in the same period in 2014.
  • Earnings per share for the first six months of 2015 increased $0.10 over the same period in 2014.


For the Three Months Ended
(Consolidated)
 
May 31, 2015 May 31, 2014 Change
Sales $ 7,804,000 $ 9,469,000 -17.6%
Operating Income $ 414,000 $ 444,000 -6.8%
Net Income $ 232,000 $ 253,000 -8.3%
EPS (Basic) $ 0.06 $ 0.06 0.0%
EPS (Diluted) $ 0.06 $ 0.06 0.0%
Weighted Average Shares Outstanding:
Basic 4,060,775 4,047,487
Diluted 4,062,294 4,053,747


For the Six Months Ended
(Consolidated)
 
May 31, 2015 May 31, 2014 Change
Sales $ 15,093,000 $ 15,706,000 -3.9%
Operating Income $ 743,000 $ 149,000 398.7%
Net Income (Loss) $ 400,000 $ (5,000)
EPS (Basic) $ 0.10 $ 0.00
EPS (Diluted) $ 0.10 $ 0.00
Weighted Average Shares Outstanding:
Basic 4,055,698 4,047,025
Diluted 4,057,073 4,047,025


Sales: Consolidated corporate sales for the three- and six-month periods ended May 31, 2015 were $7,804,000 and $15,093,000, respectively, compared to $9,469,000 and $15,706,000 during the same respective periods in 2014, a $1,665,000, or 17.6%, decrease for the quarter and a $613,000 or 3.9% decrease year-to-date. The decreases in revenue are primarily due to decreased sales of our Universal Harvester line of reels and at our tools segment. Consolidated gross margin for the three- and six-month periods ended May 31, 2015 was 28.3% and 28.2%, respectively, compared to 24.6% and 23.4% for the same respective periods in fiscal 2014.

Income: Consolidated net income was $232,000 for the three-month period ended May 31, 2015, compared to $253,000 for the same period in 2014. This decrease is due to the decreased revenue levels in the second quarter of fiscal 2015. Consolidated net income for the six-month period ended May 31, 2015 was $400,000 compared to a net loss of $5,000 in the same period of 2014. This increase in income is due to a $622,000 increase in operating income in our agricultural products segment in the first six months of 2015 compared to 2014, but was offset by operating losses at our tools and modular buildings segments.

Earnings per Share: Earnings per basic and diluted share for the second quarter ended May 31, 2015 were $0.06, unchanged from the second quarter of 2014. Earnings per basic and diluted share for the six months ended May 31, 2015 were $0.10, compared to $0.00 from the same period in 2014.

Chairman of the Art’s Way Board of Directors, Marc H. McConnell commented, “We are pleased to report another healthy and profitable quarter to our shareholders. With several of our business units experiencing challenging market conditions, we have focused on managing our way through the down-cycle profitably. While expense control is a key part of this effort we continue to make decisions and investments for the long term to enhance our position as the cycle progresses. We are not in a position to predict with any accuracy how the quarters ahead will play out but will continue being proactive and aggressive on all fronts to continue our profitable performance.”

About Art’s Way Manufacturing Co., 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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories and specialty tools and inserts. After-market service parts are also an important part of the Company’s business. The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

For more information, including an archived version of the conference call, contact: Carrie Majeski, Chief Executive Officer

712-864-3131

investorrelations@artsway-mfg.com

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

Cautionary Statements

This news release includes “forward-looking statements” within the meaning of the federal securities laws. Statements made in this release that are not strictly statements of historical facts, including our expectations regarding the impact of our management initiatives, are forward-looking statements. 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 our products; domestic and international economic conditions; factors affecting the strength of the agricultural sector; the cost of raw materials; the management of growth; the availability of investment opportunities; unexpected changes to performance by our operating segments; and other factors detailed from time to time in our 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. We do not intend to update forward-looking statements other than as required by law.

-END-




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Art’s Way Manufacturing Announces Improved First Quarter 2015 Revenue and Earnings http://www.artsway-mfg.com/arts-way-manufacturing-announces-improved-first-quarter-2015-revenue-and-earnings/ Fri, 17 Apr 2015 20:24:47 +0000 http://www.artsway-mfg.com/?p=4826 March 30, 2015 Conference Call Scheduled For Tuesday, March 31st, 2015 at 10:00 AM CT ARMSTRONG, IOWA, March 30, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announces its financial results for the quarter ended February 28, […]

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March 30, 2015

Conference Call Scheduled For Tuesday, March 31st, 2015 at 10:00 AM CT

ARMSTRONG, IOWA, March 30, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announces its financial results for the quarter ended February 28, 2015.

In conjunction with the release, the Company has scheduled a conference call for Tuesday, March 31st, 2015 at 10:00 AM CT. J. Ward McConnell, Jr., Chairman of the Board of Directors of Art’s Way Manufacturing, Marc McConnell, Vice Chairman of the Board of Directors of Art’s Way Manufacturing, Carrie Majeski, President and Chief Executive Officer of Art’s Way Manufacturing, and Dan Palmer, President of Art’s Way Scientific will be leading the call to discuss the first quarter of 2015 financial results and will also provide an outlook for the balance of 2015.

What: Art’s Way Manufacturing First Quarter 2015 Financial Results.

When: Tuesday, March 31, 2015 10:00 AM CT.

How: Live via phone by dialing (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. A replay of the call will be archived on the Company’s website for 12 months. www.artsway-mfg.com/

Financial Highlights for the Three Months Ended February 28, 2015

  • Revenue increased 16.9% over the same period in 2014.
  • Gross margin improved to 28.2% in the first quarter of 2015 from 21.5% in the same period in 2014.
  • Earnings per share for the first quarter of 2015 increased $0.10 over the same period in 2014.


For the Three Months Ended
(Consolidated)
February 28, 2015 February 28, 2014 Change
Sales $ 7,289,000 $ 6,237,000 16.9%
Operating Income (Loss) $ 329,000 $ (295,000) 211.5%
Net Income (Loss) $ 168,000 $ (258,000) 165.1%
EPS (Basic) $ 0.04 $ (0.06) 166.7%
EPS (Diluted) $ 0.04 $ (0.06) 166.7%
Weighted Average Shares Outstanding:
Basic 4,050,507 4,046,552
Diluted 4,051,754 4,046,552


Sales: Our consolidated corporate sales for the three-month period ended February 28, 2015 were $7,289,000 compared to $6,237,000 during the same respective period in 2014, a $1,052,000, or 16.9%, increase for the quarter. The increase in revenue for the three-month period ended February 28, 2015 was primarily due to increases in revenue in our Agricultural Products segment. Consolidated gross profit margin for the three-month period ended February 28, 2015 was 28.2% compared to 21.5% in 2014.

Income: Consolidated net income was $168,000 for the three-month period ended February 28, 2015, compared to a net loss of $258,000 for the same respective period in 2014. This increase in income is due to a $641,000 increase in operating income in our agricultural products segment in the first quarter of 2015 compared to the first quarter of 2014, but was offset by operating losses at our Vessels and Scientific divisions.

Earnings per Share: Earnings per basic and diluted share for the quarter ended February 28, 2015 were $0.04, an increase of $0.10 over the first quarter of 2014.

Chairman of the Art’s Way Board of Directors, J. Ward McConnell Jr., reports, “We are pleased to report another strong quarter in our Agricultural Products segment, despite the sluggish conditions in the global farm economy. In this same period, our other segments have struggled, but we are optimistic that the next several months will deliver the positive results we have been working toward with our management initiatives for improving our customer focus and cost efficiencies.”

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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories and specialty tools and inserts. After-market service parts are also an important part of the Company’s business. The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

For more information, including an archived version of the conference call, contact: Carrie Majeski, Chief Executive Officer

712-864-3131

investorrelations@artsway-mfg.com

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

Cautionary Statements

This news release includes “forward-looking statements” within the meaning of the federal securities laws. Statements made in this release that are not strictly statements of historical facts, including our expectations regarding the impact of our management initiatives, are forward-looking statements. 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 our products; domestic and international economic conditions; factors affecting the strength of the agricultural sector; the cost of raw materials; the management of growth; the availability of investment opportunities; unexpected changes to performance by our operating segments; obstacles related to integrating our acquisitions of Agro Trend and Ohio Metal Working Products Company; and other factors detailed from time to time in our 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. We do not intend to update forward-looking statements other than as required by law.

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Art’s Way Manufacturing Announces Conference Call To Review 2015 First Quarter Financial Results http://www.artsway-mfg.com/arts-way-manufacturing-announces-conference-call-to-review-2015-first-quarter-financial-results/ Tue, 24 Mar 2015 23:44:47 +0000 http://www.artsway-mfg.com/?p=4797 ARMSTRONG, Iowa, March 24, 2015 — Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces a conference call for Tuesday, March 31st, 2015 at 10:00 AM CT.  J. Ward McConnell, Jr., Chairman of the Board of Directors of Art’s Way Manufacturing, Marc H. McConnell, Vice Chairman of the Board of Directors of Art’s Way Manufacturing, Carrie Majeski, President and Chief Executive Officer, and Dan Palmer, President of […]

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ARMSTRONG, Iowa, March 24, 2015 — Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces a conference call for Tuesday, March 31st, 2015 at 10:00 AM CT.  J. Ward McConnell, Jr., Chairman of the Board of Directors of Art’s Way Manufacturing, Marc H. McConnell, Vice Chairman of the Board of Directors of Art’s Way Manufacturing, Carrie Majeski, President and Chief Executive Officer, and Dan Palmer, President of Art’s Way Scientific will be leading the call to discuss the first quarter of fiscal 2015 financial results.

What: Art’s Way Manufacturing First Quarter 2015 Financial Results

When: Tuesday, March 31st, 2015 10:00 AM CT

How:  Live via phone by dialing (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. A replay of the call will be archived on the Company’s website for 12 months. www.artsway-mfg.com

About Art’s Way Manufacturing Co., 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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories, and specialty tools and inserts. After-market service parts are also an important part of the Company’s business.  The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

FOR MORE INFORMATION CONTACT:

Carrie Majeski
President and Chief Executive Officer
Art’s Way Manufacturing Co., Inc.
investorrelations@artsway-mfg.com
Phone:  712-864-3131

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

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Art’s Way Manufacturing Introduces the 6140 Grinder Mixer – a Perfect Combination of Performance, Smooth Operation and Maximum Power. http://www.artsway-mfg.com/arts-way-manufacturing-introduces-the-6140-grinder-mixer-a-perfect-combination-of-performance-smooth-operation-and-maximum-power/ Mon, 16 Mar 2015 23:51:18 +0000 http://www.artsway-mfg.com/?p=4798 ARMSTRONG, Iowa, March 16, 2015 — Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, continued its leading position in the marketplace with the introduction of the 6140 Grinder Mixer at the 2015 National Farm Machinery Show in Louisville, KY.   Hot off the […]

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ARMSTRONG, Iowa, March 16, 2015 — Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, continued its leading position in the marketplace with the introduction of the 6140 Grinder Mixer at the 2015 National Farm Machinery Show in Louisville, KY.   Hot off the production line the 6140 Grinder Mixer, equipped with a 140 bushel tank, provides the producer an excellent option for grinding and blending feed rations. Not only does the 6140 model have an extra-large capacity tank, it features 72 hardened 4-way reversible hammers for a high speed, consistent and uniform grind. The 20 inch hammermill operates using 540 RPM PTO drive powered by 50-120 HP tractors.

The self-contained hydraulics provide smooth operation and maximum power to the auger feeder and the unload auger. A large 36 gallon oil reservoir dissipates heat, decreasing fluid temperatures while maximizing tractor horsepower.  The tractor hydraulics provide lift and swing the unloading auger into place for feed discharge. With a standing reach at 60 degrees and a minimum height of 16 ft., the unloading auger can easily fill storage bins.

Brian Rawson, Director of Sales for Art’s Way Manufacturing, commented on the addition of the 6140 Grinder Mixer to their product line: “Producers were looking for an option to grind and mix feed in a larger capacity tank than the 6105 model, and still have the hydraulic power system of the top of the line Art’s Way 6530 Grinder Mixer.  This unit provides an excellent option – a perfect combination of power and capacity.”

Adding an ingredient using the supplement hopper allows the producer to create a custom feed ration tailored to their livestock growth and nutrition needs.

Art’s Way Manufacturing continues to provide the quality and exceptional performance with the 6140 Grinder Mixer that it has since inventing the Grinder Mixer in 1956.

For more information about the new 6140 Grinder Mixer visit our website, www.artsway-ag.com or contact sales at 712-864-3131.

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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories and specialty tools and inserts. After-market service parts are also an important part of the Company’s business. The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

For more information contact:

Carrie Majeski, Chief Executive Officer
712-864-3131
investorrelations@artsway-mfg.com

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

 

 

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Art’s Way Manufacturing Announces Chairman Succession Plan http://www.artsway-mfg.com/arts-way-manufacturing-announces-chairman-succession-plan/ Tue, 03 Mar 2015 00:00:27 +0000 http://www.artsway-mfg.com/?p=4767 ARMSTRONG, IOWA, March 2, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announced today that J. Ward McConnell Jr. intends to retire from the position of Chairman of the Board of Directors at the 2015 Annual Meeting […]

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ARMSTRONG, IOWA, March 2, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announced today that J. Ward McConnell Jr. intends to retire from the position of Chairman of the Board of Directors at the 2015 Annual Meeting of Stockholders. He will stand for re-election as a director and the Board of Directors intends to designate Mr. McConnell as Vice Chairman-Elect. Mr. McConnell has served as Chairman of the Board since 2002 and as a director of the Company since 1996.

As part of the Company’s leadership succession plan, the Board of Directors intends to designate Marc McConnell as Chairman-Elect at the 2015 Annual Meeting of Stockholders. Marc McConnell has served on the Board of Directors of Art’s Way Manufacturing since 2001 and as Vice-Chairman since 2008.  In addition to his role at Art’s Way, Mr. McConnell currently serves as Chairman of the Board of West Town Bank & Trust of Chicago, IL, President of Bauer Corporation of Wooster, OH, and as Vice-Chairman of McConnell Holdings, Inc. of Kinston, NC among other business interests.  He has also served as President of the Farm Equipment Manufacturers Association from 2013-14 and President of the American Ladder Institute from 2006-2010.  Mr. McConnell is a member of the Young Presidents Organization (YPO) and is a graduate of Cornell University in Ithaca, NY.

J. Ward McConnell Jr., commented,

“This is an exciting time in our company. We have just concluded our 13th straight profitable year and are poised for growth in the years ahead under Marc’s leadership.

I am proud of the work we’ve done and successes we’ve enjoyed since turning this company around in 2002. Art’s Way was in dire condition when I assumed the role of Chairman and, with the help of many great people; we quadrupled the size of the Company in 13 years, became financially strong, and truly took this organization to the next level in every way. I am pleased to hand it off to Marc in a position of strength and am excited about where he will take it in the years ahead. An orderly succession plan has been in development for some time and I am pleased to say that the time has come to pass the baton.

Marc has brought energy and drive as a director and Vice-Chairman for Art’s Way. Those traits, as well as his understanding and passion for the business, will continue to benefit the Company when he transitions to the position of Chairman. Our succession plan is moving forward on target and will facilitate a smooth leadership transition at the Board level.”

Marc H. McConnell commented, “I am pleased to have had the trust and confidence placed in me to assume the role of Chairman. We are so fortunate to have had the relentless work, vision, and leadership Ward has provided this Company since 2002. Without his efforts, none of this enterprise would exist to serve our customers, create careers for our employees, and deliver the return on investment our shareholder base deserves. All of us involved with Art’s Way today owe it all to what he has done.

This company has endless opportunity to grow and build shareholder value in the years ahead and I look forward to serving our customers, employees, and shareholders alike in my new capacity. Focusing on long-term strategies and reinvestment, we will take this business to the next level.”

 

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, round hay balers, plows, hay and forage equipment, manure spreaders, reels for combines and swathers, and top and bottom drive augers, as well as pressurized tanks and vessels, modular animal confinement buildings and laboratories and specialty tools and inserts. After-market service parts are also an important part of the Company’s business. The Company has four reporting segments: agricultural products; pressurized tanks and vessels; modular buildings; and tools.

For more information contact:
Carrie Majeski, Chief Executive Officer
712-864-3131
investorrelations@artsway-mfg.com
Or visit the Company’s website at www.www.artsway-mfg.com

Cautionary Statements
This news release includes “forward-looking statements” within the meaning of the federal securities laws. Statements made in this release that are not strictly statements of historical facts, including: (i) our expectations regarding the strength of the agricultural and livestock markets; (ii) our expectations regarding future results, product offerings and markets; and (iii) the benefits of our growth strategy and business model, are forward-looking statements. 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: obstacles related to the integration of our acquired companies; economic conditions that affect demand for our products; the ability of our suppliers to meet our demands for raw materials and component parts; our ability to predict and meet the demands of each market in which our segments operate; our ability to predict and respond to any seasonal fluctuations in demand; unexpected delays in product launches; the cost of raw materials; and other factors detailed from time to time in our 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. We do not intend to update forward-looking statements other than as required by law.

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