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Arts Way Manufacturing Co Inc (ARTW) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, November 30, 2016

Arts Way Manufacturing Co Inc

CIK: 7623 Ticker: ARTW

Exhibit 99.1

 

 

 

FOR IMMEDIATE RELEASE 

February 1, 2017

 

 

ART’S WAY MANUFACTURING ANNOUNCES FISCAL 2016 FINANCIAL RESULTS

 

Conference Call Scheduled For February 2, 2017

 

ARMSTRONG, IOWA, February 1, 2017– Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified, international manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, announces its financial results for 2016.

 

In conjunction with the release, the Company has scheduled a conference call for Thursday, February 2, 2017 at 10:00 AM CT. Marc H. McConnell, Chairman of the Board of Directors of Art’s Way Manufacturing, and Carrie Gunnerson, President and Chief Executive Officer will be leading the call to discuss fiscal 2016 financial results.

 

What: Art’s Way Manufacturing, Inc. Fiscal 2016 Financial Results.

 

When: Thursday, February 2nd, 2017 10:00 AM CT.

 

How: Live via phone by dialing (877) 358-7309. 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 Twelve Months Ended
(Continuing Operations, Consolidated)

 
   

November 30, 2016

   

November 30, 2015

 

Sales

  $ 21,558,000     $ 26,326,000  

Operating Income (Loss)

  $ (431,000 )   $ (77,000 )

Net Income (Loss)

  $ (426,000 )   $ (310,000 )

EPS (Basic)

  $ (0.10 )   $ (0.08 )

EPS (Diluted)

  $ (0.10 )   $ (0.08 )
                 

Weighted Average Shares Outstanding:

               

Basic

    4,097,748       4,058,382  

Diluted

    4,097,748       4,058,382  

  

 
 

The following information was filed by Arts Way Manufacturing Co Inc (ARTW) on Wednesday, February 1, 2017 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 18 - Subsequent Events
Consolidated Balance Sheets
Consolidated Balance Sheets (parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (parentheticals)
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 1 - Summary Of Significant Account Policies - Basic And Diluted Earnings Per Common Share (details)
Note 10 - Loan And Credit Agreements
Note 10 - Loan And Credit Agreements (details Textual)
Note 10 - Loan And Credit Agreements (tables)
Note 10 - Loan And Credit Agreements - Summary Of Term Debt (details)
Note 10 - Loan And Credit Agreements - Summary Of Term Debt (details) (parentheticals)
Note 10 - Loan And Credit Agreements - Summary Of The Minimum Maturities Of Term Debt (details)
Note 11 - Related Party Transactions
Note 11 - Related Party Transactions (details Textual)
Note 12 - Employee Benefit Plans
Note 12 - Employee Benefit Plans (details Textual)
Note 13 - Equity Incentive Plan
Note 13 - Equity Incentive Plan (details Textual)
Note 13 - Equity Incentive Plan (tables)
Note 13 - Equity Incentive Plan - Fair Value Assumptions (details)
Note 13 - Equity Incentive Plan - Option Activity (details)
Note 13 - Equity Incentive Plan - Summary Of The Status Of The Company's Non-vested Shares (details)
Note 14 - Income Taxes
Note 14 - Income Taxes (details Textual)
Note 14 - Income Taxes (tables)
Note 14 - Income Taxes - Deferred Tax Assets And Liabilities (details)
Note 14 - Income Taxes - Income Tax Expense (benefit) (details)
Note 14 - Income Taxes - Reconciliation Of The Statutory Federal Income Tax Rate (details)
Note 15 - Disclosures About The Fair Value Of Financial Instruments
Note 16 - Litigation And Contingencies
Note 17 - Segment Information
Note 17 - Segment Information (details Textual)
Note 17 - Segment Information (tables)
Note 17 - Segment Information - Segment Reporting Information (details)
Note 2 - Discontinued Operations
Note 2 - Discontinued Operations (tables)
Note 2 - Discontinued Operations - Components Of Discontinued Operations (details)
Note 2 - Discontinued Operations - Income From Discontinued Operations Before Income Taxes (details)
Note 3 - Allowance For Doubtful Accounts
Note 3 - Allowance For Doubtful Accounts (tables)
Note 3 - Allowance For Doubtful Accounts - Activity In The Allowance For Doubtful Accounts (details)
Note 4 - Inventories
Note 4 - Inventories (tables)
Note 4 - Inventories - Major Classes Of Inventory (details)
Note 5 - Contracts In Progress
Note 5 - Contracts In Progress (details Textual)
Note 5 - Contracts In Progress (tables)
Note 5 - Contracts In Progress - Long-term Contracts (details)
Note 6 - Property, Plant, And Equipment
Note 6 - Property, Plant, And Equipment (details Textual)
Note 6 - Property, Plant, And Equipment (tables)
Note 6 - Property, Plant, And Equipment - Major Classes Of Property, Plant, And Equipment (details)
Note 7 - Assets Available For Sale
Note 7 - Assets Available For Sale (details Textual)
Note 7 - Assets Available For Sale (tables)
Note 7 - Assets Available For Sale - Major Components Assets Available For Sale (details)
Note 8 - Accrued Expenses
Note 8 - Accrued Expenses (tables)
Note 8 - Accrued Expenses - Major Components Of Accrued Expenses (details)
Note 9 - Product Warranty
Note 9 - Product Warranty (tables)
Note 9 - Product Warranty - Changes In Product Warranty Liability (details)
Significant Accounting Policies (policies)
Ticker: ARTW
CIK: 7623
Form Type: 10-K Annual Report
Accession Number: 0001437749-17-001528
Submitted to the SEC: Thu Feb 02 2017 2:45:58 PM EST
Accepted by the SEC: Thu Feb 02 2017
Period: Wednesday, November 30, 2016
Industry: Farm Machinery And Equipment

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