Art’s Way Releases Q3 Numbers

Art’s Way Manufacturing Co., Inc. has announced its financial results for the quarter ending August 31.

The company’s consolidated corporate sales for the period were $6,886,000, compared to $11,585,000 for the same periods in 2014, a 40.6% decrease for the quarter.

Marc H. McConnell, Chairman of the Art’s Way Board of Directors, 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.”

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