Art's-Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers.
Financial Highlights For the Three and Nine Months Ended August 31, 2009:
• Net sales for the three months ended August 31, 2009 were $5.6 million.
• Net sales for the nine months ended August 31, 2009 were $19.4 million.
• As of September 2009, order backlog is $6.2 million.
The products segment had net sales of approximately $4,993,000 and $15,868,000 for the three- and nine-month periods ended August 31, 2009, respectively. Sales were $6,685,000 and $15,878,000 for the same respective periods in fiscal 2008, which represents a decrease of 25.3% and 0.1%, respectively. The company cites the decreased sales of sugar beet harvesters and grinder mixers for the overall category being down. However, the decreases was partially offset by the sales from the Miller Pro products and the sales of the company first-ever line of augers.
The company has two wholly owned subsidiaries. Art's-Way Vessels, Inc. manufactures pressurized tanks and vessels and Art's-Way Scientific, Inc. manufactures modular animal confinement buildings and modular laboratories. Aftermarket service parts are also an important part of the Company's business.
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