Art's-Way Q1 revenue up 40.7% to $7.9M; net income of $342K vs loss of $406K YoY

ARTS WAY MANUFACTURING CO INC

2023-Q1 EPS reported $0.07 revenue$7,894,785

Revenue $7.895M vs $5.613M (+40.7%) for Q1 fiscal 2023 ended Feb 28, 2023.
Operating income $549K vs loss of $437K; net income $342K ($0.07 EPS) vs loss of $406K (-$0.09).
Agricultural Products sales up 30.9% to $5.445M; Modular Buildings up 89.2% to $1.642M; Tools up 38.4% to $808K.
CEO cites disciplined pricing, operational excellence, and reduced inflationary pressures for improvement.
Company expects continued growth for remainder of 2023 as demand remains strong.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ARTS WAY MANUFACTURING CO INC reported first fiscal quarter of 2023 results: revenue $7,895,000, net income $342,000, EPS $0.07.

Period: first fiscal quarter of 2023
Revenue: $7,895,000
Net income: $342,000
EPS: $0.07
Result: reported results

Exact text from the filing

steel cutting needs, announces its financial results for the first quarter of fiscal 2023. For the Three Months Ended (Consolidated) February 28, 2023 February 28, 2022 Sales $ 7,895,000 $ 5,613,000 Operating Income (Loss) $ 549,000 $ (437,000 ) Net Income (Loss) $ 342,000 $ (406,000 ) EPS (Basic) $ 0.07 $ (0.09 ) EPS (Diluted) $ 0.07 $ (0.09 ) Weighted Average

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Source: SEC EDGAR

accession 0001437749-23-009672

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