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Arts Way Manufacturing Co Inc (ARTW) SEC Filing 10-K Annual report for the fiscal year ending Sunday, November 30, 2014

Arts Way Manufacturing Co Inc

CIK: 7623 Ticker: ARTW

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

January 26, 2015

 

 

 

ART’S WAY MANUFACTURING ANNOUNCES YEAR END 2014 FINANCIAL RESULTS

 

Conference Call Scheduled For Tuesday, January 27th, 2015 at 10:00 AM CT

 

ARMSTRONG, IOWA, January 27, 2015 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research, water treatment and steel cutting needs, announces its financial results for the year ended November 30, 2014.

 

In conjunction with the release, the Company has scheduled a conference call for Tuesday, January 27, 2015 at 10:00 AM CT. J. Ward McConnell, Jr., Chairman of the Board of Directors of Art’s Way Manufacturing, Marc McConnell, Vice Chairman of the Board of Directors of Art’s Way Manufacturing, Carrie Majeski, President, Chief Executive Officer of Art’s Way Manufacturing, and Dan Palmer, President of Art’s Way Scientific will be leading the call to discuss the year-end 2014 financial results and will also provide an outlook for 2015.

 

What: Art’s Way Manufacturing year-end 2014 Financial Results.

 

When: Tuesday, January 27, 2015 10:00 AM CT.

 

How: Live via phone by dialing (800) 624-7038. Code: Art’s Way Manufacturing. Participants to the conference call should call in at least 5 minutes prior to the start time. A replay of the call will be archived on the Company’s website for 12 months. www.artsway-mfg.com/

 

 

   

For the Year Ended
(Consolidated)

         
   

November 30,

2014

   

November 30,

2013

   

Change

 

Sales

  $ 36,170,000     $ 34,227,000       5.7 %

Operating Income

  $ 1,665,000     $ 1,817,000       -8.4 %

Net Income

  $ 935,000     $ 1,551,000       -39.7 %

EPS (Basic)

  $ 0.23     $ 0.38       -39.5 %

EPS (Diluted)

  $ 0.23     $ 0.38       -39.5 %

Weighted Average Shares Outstanding:

                       

Basic

    4,047,796       4,039,530          

Diluted

    4,052,703       4,049,791          

 

 
 

The following information was filed by Arts Way Manufacturing Co Inc (ARTW) on Tuesday, January 27, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Note 16 - Subsequent Event
Consolidated Balance Sheets
Consolidated Balance Sheets (parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Note 1 - Summary Of Significant Accounting Policies - Basic And Diluted Earnings Per Common Share (details)
Note 10 - Equity Incentive Plan - Fair Value Assumptions (details)
Note 10 - Equity Incentive Plan - Option Activity (details)
Note 10 - Equity Incentive Plan - Summary Of The Status Of The Company's Non-vested Shares (details)
Note 11 - Income Taxes - Deferred Tax Assets And Liabilities (details)
Note 11 - Income Taxes - Income Tax Expense (benefit) (details)
Note 11 - Income Taxes - Reconciliation Of The Statutory Federal Income Tax Rate (details)
Note 15 - Segment Information - Segment Reporting Information (details)
Note 2 - Allowance For Doubtful Accounts - Activity In The Allowance For Doubtful Accounts (details)
Note 3 - Inventory - Major Classes Of Inventory (details)
Note 4 - Contracts In Progress - Long-term Contracts (details)
Note 5 - Property, Plant, And Equipment - Major Classes Of Property, Plant, And Equipment (details)
Note 6 - Accrued Expenses - Major Components Of Accrued Expenses (details)
Note 7 - Product Warranty - Changes In Product Warranty Liability (details)
Note 8 - Loan And Credit Agreements - Summary Of Term Debt (details)
Note 8 - Loan And Credit Agreements - Summary Of The Minimum Maturities Of Term Debt (details)
Note 1 - Summary Of Significant Account Policies
Note 1 - Summary Of Significant Account Policies (details Textual)
Note 1 - Summary Of Significant Account Policies (tables)
Note 10 - Equity Incentive Plan
Note 10 - Equity Incentive Plan (details Textual)
Note 10 - Equity Incentive Plan (tables)
Note 11 - Income Taxes
Note 11 - Income Taxes (tables)
Note 12 - Acquisitions
Note 12 - Acquisitions (details Textual)
Note 13 - Disclosures About The Fair Value Of Financial Instruments
Note 14 - Litigation And Contingencies
Note 15 - Segment Information
Note 15 - Segment Information (details Textual)
Note 15 - Segment Information (tables)
Note 2 - Allowance For Doubtful Accounts
Note 2 - Allowance For Doubtful Accounts (tables)
Note 3 - Inventory
Note 3 - Inventory (tables)
Note 4 - Contracts In Progress
Note 4 - Contracts In Progress (details Textual)
Note 4 - Contracts In Progress (tables)
Note 5 - Property, Plant, And Equipment
Note 5 - Property, Plant, And Equipment (details Textual)
Note 5 - Property, Plant, And Equipment (tables)
Note 6 - Accrued Expenses
Note 6 - Accrued Expenses (tables)
Note 7 - Product Warranty
Note 7 - Product Warranty (details Textual)
Note 7 - Product Warranty (tables)
Note 8 - Loan And Credit Agreements
Note 8 - Loan And Credit Agreements (details Textual)
Note 8 - Loan And Credit Agreements (tables)
Note 9 - Employee Benefit Plans
Note 9 - Employee Benefit Plans (details Textual)
Significant Accounting Policies (policies)
Ticker: ARTW
CIK: 7623
Form Type: 10-K Annual Report
Accession Number: 0001437749-15-001434
Submitted to the SEC: Thu Jan 29 2015 1:17:48 PM EST
Accepted by the SEC: Thu Jan 29 2015
Period: Sunday, November 30, 2014
Industry: Farm Machinery And Equipment

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