Art’s Way Ag equipment sales decline 15.6% in Q2 2020

Art’s Way Mfg. reported its sales income for the first and second quarters of 2020 at US$5.446 and US$10.472 million respectively, compared to US$5.747 and US$9.871 during the same respective periods in 2019.

This represents a US$301,000 or 5.2% decrease for the first 3 months but an improved US$601,000 or 6.1% increase for the full 6 months period.

The second quarter sales for agricultural products segment was US$3.071 million compared to US$3.637 million during the same period of in 2019, a decrease of US$566,000, or 15.6%. 

Agricultural product sales for six months were US$6.023 million compared to US$6.247 million during the same period in 2019, a decrease of US$224,000, or 3.6%.

While sales in the agricultural products segment were up 13.1% at the end of our first quarter in fiscal 2020, the second quarter included new challenges, most of which were driven by the COVID-19 pandemic.

Art’s Way’s consolidated net loss was US$802,000 for the first 3 month period of 2020, compared to net loss of US$356,000 for the same period in 2019.

The company reported its consolidated net loss for the first 6 months 2020 was US$1.239 million compared to US$962,000 in 2019.

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