Titan Machinery Crushes Q1 Estimates, Raises FY 2012 Guidance
Автор: FinancialNewsOnline
Загружено: 2011-06-09
Просмотров: 75
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Titan Machinery Inc. (NASDAQ:TITN) reported Q1 EPS of $0.40 today, nearly doubling the consensus estimate for $0.22 per share. Revenues grew 54.9% year-over-year to $318.2 million, easily beating the consensus estimate for $260.5 million.
David Meyer, Titan Machinery's Chairman and Chief Executive Officer, stated, "We are pleased with our strong agriculture and construction business results for the first quarter of fiscal 2012. These results were driven by organic and acquired growth in both businesses. Agriculture same store sales increased 37.6% and our Construction same store sales increased 33.1%. In addition, our Construction business generated pre-tax income of $0.7 million for the first quarter compared to a loss of $1.9 million for the same period last year."
For the full year, the company now expects to achieve revenue in the range of $1.310 to $1.385 billion, up from its prior estimate of $1.275 to $1.350 billion, vs. the consensus estimate for $1.34 billion, and EPS of $1.53 to $1.63, from $1.50 to $1.60 previously, and vs. the consensus estimate for $1.48 per share.
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