Art's-Way Manufacturing FY2022 sales up 13.8% to $28.4M; EPS $0.02 vs $0.05; ag segment ops income $1.2M

ARTS WAY MANUFACTURING CO INC

FY2022 net sales $28.4M (+13.8% YoY); net income $98K ($0.02 EPS) vs $213K ($0.05 EPS) in FY2021.
Agricultural Products segment net sales $20.9M (+24.3% YoY); operating income $1.2M vs $599K.
Modular Buildings segment net sales $4.7M (-16.6% YoY); operating loss $600K vs income $74K.
Tools segment net sales $2.75M (+11.9% YoY); operating loss $272K vs loss $150K.
CEO reports record ag equipment backlog; expects strong modular building revenue increase in FY2023.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARTS WAY MANUFACTURING CO INC reported fiscal 2022 results: revenue $28,400,000, net income $98,000, EPS $0.02.

Period: fiscal 2022
Revenue: $28,400,000
Net income: $98,000
EPS: $0.02
Result: reported results

Exact text from the filing

Art's Way Manufacturing Co., Inc. (Nasdaq: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, announces its financial results for fiscal 2022. For the Twelve Months Ended (Consolidated) November 30, 2022 November 30, 2021 Sales $ 28,400,000 $ 24,965,000 Operating Income $ 333,000 $ 523,000 Net Income $ 98,000 $ 213,000 EPS $ 0.02 $ 0.05

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Source: SEC EDGAR

accession 0001437749-23-003481

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