Art's way announces earnings growth for q2 and first six months of fiscal 2023 led by agricultural products segment

Armstrong, ia / accesswire / july 11, 2023 / art's way manufacturing co., inc. (nasdaq:artw) (the "company"), a diversified, international manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, announces its financial results for the second quarter and year to date of fiscal 2023. for the three months ended (consolidated) may 31, 2023 may 31, 2022 sales $ 9,008,000 $ 7,275,000 operating income $ 434,000 $ 321,000 net income $ 307,000 $ 175,000 eps (basic) $ 0.06 $ 0.04 eps (diluted) $ 0.06 $ 0.04 weighted average shares outstanding: basic 5,014,050 4,629,331 diluted 5,014,050 4,629,331 for the six months ended (consolidated) may 31, 2023 may 31, 2022 sales $ 16,903,000 $ 12,888,000 operating income (loss) $ 982,000 $ (115,000 ) net income (loss) $ 649,000 $ (231,000 ) eps (basic) $ 0.13 $ (0.05 ) eps (diluted) $ 0.13 $ (0.05 ) weighted average shares outstanding: basic 4,995,708 4,599,743 diluted 4,995,708 4,599,743 sales: the company's consolidated corporate sales for the three- and six-month periods ended may 31, 2023 were $9,008,000 and $16,903,000, respectively, compared to $7,275,000 and $12,888,000 during the same respective periods in fiscal 2022, a $1,733,000, or 23.8%, increase for the three months and a $4,015,000, or 31.1%, increase for the six months.
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