« Continue Browsing

e-mail article Print     e-mail article E-mail

Associated Press, Published September 10 2010

Titan 2Q profit sinks as costs offset revenue gain

West Fargo-based Titan Machinery Inc. says its second-quarter earnings plunged 44 percent as higher expenses overshadowed increased revenue.

Titan reported net income of $2.7 million, or 15 cents per share, for the three months ending July 31. That compared with $4.9 million, or 27 cents per share, a year earlier.

Revenue rose 9 percent, but costs and operating expenses each rose 10 percent.

The company still expects net income of between 92 cents and $1.02 per share on revenue of $920 million to $980 million for the fiscal year ending Jan. 31.

Copyright © 2010 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.