Art’s-Way Releases Financials

Art's-Way Manufacturing recently released second quarter results. In the second quarter, sales for the company’s Ag sector, its biggest, were $6.4 million compared to $7.6 million in 2014.

Year to date sales were $11.7 milliocompared to $12 million, a decrease of $323,000. Art's-Way sales have been most significantly impacted at Universal Harvester Company (UHC), which manufactures reels for OEMs for combines and swathers. UHC’s sales were down $1.7 million year over year. Art’s-Way has seen an increase, primarily in grinder mixer sales, which offset a majority of the decrease from UHC.

Income before tax for the Ag sector in the second quarter for 2015 was $538,000 compared to $542,000 in 2014.

Year to date income before tax was $937,000 compared to $301,000 in the prior year, an increase of $636,000.

Improved product mix and efficiency gains have contributed to the significant increase in income before tax.

The backlog for the Ag sector currently is sitting at $3.3 million compared to $6 million, a decrease of $2,678,000. 

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