Art's Way Manufacturing Q2 Profit Down - Quick Facts

(RTTNews) - Art's Way Manufacturing Co. Inc. (ARTW) reported that its second-quarter net income declined to $514,000 or $0.13 per share, from $936,000 or $0.23 per share in the same quarter last year.

Net sales for the quarter slip to $9.25 million from $11.69 million in the prior year quarter.

Ward McConnell Jr., Chairman of the Board of Directors said, "We expect the Company to grow with additional product offerings and expansion into new markets and we believe that our future is very bright. We believe that our targeted agricultural niche products present profitable opportunities and that the agricultural sector remains an attractive investment due to near-record incomes expected this year on the farm. We have positioned Art's Way with our accretive acquisitions to be a growth company with diverse product lines and markets in order to deliver a growth rate on revenue that is above average for our industry."