Titan Machinery Reports Fiscal Q3 Results (TITN)
12/10/2012

[All four of the Company’s revenue sources—equipment, parts, service, and rental and other—contributed to this period-over-period revenue growth]

Online PR News – 10-December-2012 – Las Vegas, NV – Titan Machinery Inc. (NASDAQ: TITN) TITN ("Titan Machinery") previously reported financial results for the fiscal third quarter and first nine months ended October 31, 2012. For the third quarter of fiscal 2013, TITN ("Titan Machinery") revenue increased 37.6% to $582.1 million from revenue of $423.0 million in the third quarter last year. All four of the Company’s revenue sources—equipment, parts, service, and rental and other—contributed to this period-over-period revenue growth. Equipment sales were $456.2 million for the third quarter of fiscal 2013, compared to $312.3 million in the third quarter last year. Parts sales were $72.1 million for the third quarter of fiscal 2013, compared to $64.5 million in the third quarter last year. Revenue generated from service was $33.4 million for the third quarter of fiscal 2013, compared to $29.8 million in the third quarter last year. Revenue from rental and other increased to $20.5 million from $16.3 million in the third quarter last year. TITN ("Titan Machinery") Gross profit for the third quarter of fiscal 2013 was $94.1 million, compared to $74.0 million in the third quarter last year. The Company’s gross profit margin was 16.2% in the third quarter of fiscal 2013, compared to 17.5% in the third quarter last year. The decrease in gross profit margin was primarily due to the change in sales mix, in which the higher margin parts and service businesses generated a smaller percentage of sales compared to the same quarter last year. Titan Machinery Inc. (NASDAQ: TITN), founded in 1980 and headquartered in West Fargo, North Dakota, is a multi-unit business with mature locations and newly-acquired locations. The Company owns and operates a network of full-service agricultural and construction equipment stores in the United States and Europe. The Titan Machinery network consists of 104 North American dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin, Colorado, and Arizona, including two outlet stores, and 12 European dealerships in Romania and Bulgaria. The Titan Machinery dealerships represent one or more of the CNH Brands (NYSE: CNH), a majority-owned subsidiary of Fiat Industrial (Milan: FI.MI), including CaseIH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com. In my opinion this is a stock to watch! (Read Full Disclaimer at http://crweselect.com/disclaimer)