Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

July 10, 2019

 

ART’S WAY MANUFACTURING ANNOUNCES SECOND QUARTER AND YEAR TO DATE FISCAL 2019 FINANCIAL RESULTS

 

ARMSTRONG, IOWA, July 10, 2019 – Art’s Way Manufacturing Co., Inc. (NASDAQ: ARTW), a diversified manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, announces its financial results for the second quarter and year to date fiscal 2019.

 

   

For the Three Months Ended

 
   

(Continuing Operations, Consolidated)

 
   

May 31, 2019

   

May 31, 2018

 

Sales

  $ 5,747,000     $ 5,294,000  

Operating (Loss)

  $ (370,000 )   $ (458,000 )

Net (Loss)

  $ (356,000 )   $ (654,000 )

EPS (Basic)

  $ (0.08 )   $ (0.16 )

EPS (Diluted)

  $ (0.08 )   $ (0.16 )
                 

Weighted Average Shares Outstanding:

               

Basic

    4,299,289       4,213,893  

Diluted

    4,299,289       4,213,893  

 

   

For the Six Months Ended

 
   

(Continuing Operations, Consolidated)

 
   

May 31, 2019

   

May 31, 2018

 

Sales

  $ 9,871,000     $ 10,660,000  

Operating (Loss)

  $ (1,092,000 )   $ (767,000 )

Net (Loss)

  $ (962,000 )   $ (1,181,000 )

EPS (Basic)

  $ (0.23 )   $ (0.28 )

EPS (Diluted)

  $ (0.23 )   $ (0.28 )
                 

Weighted Average Shares Outstanding:

               

Basic

    4,272,532       4,192,592  

Diluted

    4,272,532       4,192,592  

 

 

The following information was filed by Arts Way Manufacturing Co Inc (ARTW) on Wednesday, July 10, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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