Art's-Way Manufacturing Co., Inc. Reports Earnings Results for the Second Quarter Ended May 31, 2020
July 11, 2020 at 12:03 am IST
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Art's-Way Manufacturing Co., Inc. announced earnings results for the second quarter ended May 31, 2020. For the second quarter, the company announced sales was USD 5.445 million compared to USD 5.747 million a year ago. Operating loss was USD 924,616 compared to USD 369,513 a year ago. Net loss was USD 801,720 compared to USD 356,042 a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.08 a year ago. For the half year, sales was USD 10.471 million compared to USD 9.871 million a year ago. Operating loss was USD 1.394 million compared to USD 1.092 million a year ago. Net loss was USD 1.238 million compared to USD 961,974 a year ago. Basic loss per share from continuing operations was USD 0.28 compared to USD 0.23 a year ago.
Art's-Way Manufacturing Co., Inc. is a manufacturer of agricultural equipment and specialized in modular science and agricultural buildings. The Company operates through two segments: Agricultural Products and Modular Buildings. The Agricultural Products segment manufactures a variety of specialized farm machinery under its own label, including portable and stationary animal feed processing equipment and related attachments used to mill and mix feed grains into custom animal feed rations; a line of forage equipment consisting of forage boxes, bale processors, running gear, and dump boxes; a line of manure spreaders; sugar beet harvesting equipment, and a line of dirt work equipment. The Modular Buildings segment produces, sells and leases modular buildings, which are custom designed to meet the specific research needs of its customers. The buildings it commonly produces range from basic swine buildings to complex containment research laboratories.