Titan Machinery Reports 1Q Results

Titan Machinery Inc.’s reported revenue for the quarter ending April 30, 2014, was $465.5 million, compared to $441.7 million in the first quarter last year.

Equipment sales were $345.0 million for the first quarter of fiscal 2015, compared to $334.7 million in the first quarter last year. Parts sales were $68.4 million for the first quarter of fiscal 2015, compared to $62.8 million in the first quarter last year. Revenue generated from service was $37.1 million for the first quarter of fiscal 2015, compared to $32.0 million in the first quarter last year. Revenue from rental and other increased to $15.0 million for the first quarter of fiscal 2015 from $12.1 million in the first quarter last year.

The Company’s inventory level was $1.12 billion as of April 30, 2014, compared to $1.08 billion as of January 31, 2014.