Associated Press, Published September 10 2010
Titan 2Q profit sinks as costs offset revenue gainWest 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.
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