Dealer News

Titan Machinery Inc. acquired certain assets of Midland Equipment, Inc., consisting of one agriculture equipment store in Wayne, NE, which expands Titan’s agriculture presence in the state. In its most recently reported fiscal year, Midland Equipment, Inc. generated revenue of approximately $4.5 million.

Titan also reported a loss for the second quarter, compared to a profit last year, reflecting lower revenues and higher interest expense, and cut its earnings and revenue outlook for the fiscal year ending Jan. 31, 2015.

For the second quarter ended July 31, net loss attributable to stockholders was $0.6 million. Quarterly revenue declined 7.6% to $450.99 million. Equipment sales were $320.1 million, down from $358.4 million in the same quarter last year, and revenues from the agriculture segment fell 14.5%, while revenues from the construction segment climbed 15.9%. S