Armstrong, Iowa, July 1, 2014 — Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces that Art’s Way Scientific, Inc (www.buildingsforscience.com) was awarded a sole source contract for a “High Output Swine Behavioral Unit” for the University of Illinois Department of Agricultural Nutritional Sciences Division. The testing unit, valued at $620,000, will support Dr. Ryan Dilgers work to study the nutritional effects of infant formula in brain development.
Art’s Way Scientific recently signed contracts for an additional $290,000 in business, including a swine research unit for Recombinetics, a company that develops genetic lines of swine bred to duplicate human diseases like heart disease, diabetes and cancer.
Dan Palmer, President of Art’s Way Scientific said, “We are pleased by this uptick in business. The University of Illinois is a valued and repeat customer. These orders demonstrate the strength of our team and our unique capabilities within the Modular Animal Housing industry. These buildings fit our clients need’s perfectly because they create the ideal environment for swine, the research, and the people who work in them. Our ability to design, construct and install “ready to use” animal units in a short period of time, is a strong selling feature for us.”
J. Ward McConnell, Jr., Chairman of the Board, said, “We are beginning to see an increased interest for our modular buildings, particularly in the hog and dairy industries. As a result of these contracts and other bids in the pipeline, we are anticipating Art’s Way Scientific’s revenue, income, and gross margins to improve in the balance of fiscal 2014.”
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 buildings and laboratories and specialty tools and inserts. Aftermarket 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
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 made in this release that are not strictly statements of historical facts, including: (i) our expectations regarding the benefits of our recent acquisitions; (ii) our expectations regarding new contracts in the modular buildings segment; (iii) our intended marketing efforts at Scientific; (iv) our expectations regarding future results, product offerings and markets; and (v) the benefits of our growth strategy and business model; and (vi) the cyclical nature of the agricultural market and our expectations regarding the strength of certain agricultural markets, 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.