Art’s-Way Quarterly

Results Down From 2008

Art’s-Way Manufacturing Co., Armstrong, IA, has announced its financial results. Financial highlights for the three and nine months ended Aug. 31 included: Net sales for the three months ended Aug. 31 were $5.6 million; net sales for the nine months ended Aug. 31 were $19.4 million; as of September 2009, order backlog is $6.2 million.

Consolidated net sales for the nine-month period ended Aug. 31 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 Aug. 31 were $5,600,000 compared to $9,421,000 for the same period in fiscal 2008.

The 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 sales from the Miller Pro products, and also the sales of augers, which production began in the current fiscal year.