Arts Way Announces Q3 Results
Art’s Way Manufacturing Co., Inc. has announced consolidated corporate sales for continuing operations for the three- and nine-month periods ended August 31. Sales were about $5.3 million and about $16 million, respectively, compared to about $6.6 million and $15.7 million for the same periods last year.
This reflects a 19.4 percent decrease for the quarter and a 1.8 percent increase for the first nine months of the year.
The company noted that its agricultural products segment had approximately $720,000 of pass-through revenue from self-propelled beet harvester equipment in 2017, which was not replicated in 2018.
The company also experienced a $572,000 reduction in year-over-year revenue attributable to activity from its now-closed Art’s Way International subsidiary.
Adjusted for these items, consolidated corporate sales for the nine months are up almost $1.6 million in 2018, as the company shifts focus to Art’s Way-produced products.
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