Dealer News Update

Titan Machinery Inc. reported financial results for the fiscal first quarter ended April 30, 2013. Fiscal 2014 First Quarter Results For the first quarter of fiscal 2014, revenue increased 4.7% to $441.7 million from revenue of $421.7 million in the first quarter last year.

All four of the company’s revenue sources-equipment, parts, service, and rental and other-contributed to this period-over-period revenue growth.

Equipment sales were $334.7 million for the first quarter of fiscal 2014, compared to $322.5 million in the first quarter last year. Parts sales were $62.8 million for the first quarter of fiscal 2014, compared to $58.8 million in the first quarter last year. Revenue generated from service was $32.0 million for the first quarter of fiscal 2014, compared to $29.8 million in the first quarter last year. Revenue from rental and other increased to $12.1 million from $10.6 million in the first quarter last year.

Hoober, Inc., an agricultural equipment dealer with locations in Pennsylvania, Delaware, and Maryland, officially opened two locations in Virginia on June 1 with the conversion of the former Cavalier International stores in Ashland, VA and Wakefield, VA to Hoober, Inc. locations.

Hoober, Inc. had previously announced the family-owned dealership had an agreement to acquire the assets of Cavalier International and that acquisition was completed at the close of business on May 31, 2013.

Arnold’s of Willmar, MN, a Case IH dealership suffered from a fire this week at the shop. The company said, the building has extensive smoke and soot damage and has limited electrical power, according to Kraig DeJong, the store manager.

“We are trying to keep going to serve our customers,” he said, adding that all the doors and windows of the shop are open in an effort to ventilate the smoke for employee safety,” DeJong said. “We need to take care of our employees as well as our customers.”