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Arts Way Manufacturing Co Inc (ARTW) SEC Filing 10-K Annual report for the fiscal year ending Saturday, November 30, 2019

Arts Way Manufacturing Co Inc

CIK: 7623 Ticker: ARTW

 

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

February 4, 2020

 

 

ART’S WAY MANUFACTURING ANNOUNCES 16% GROWTH IN REVENUE FOR FISCAL 2019, WITH STRENGTHENING REVENUE IN THE 4TH QUARTER

 

ARMSTRONG, IOWA, February 4, 2020 – 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 the fourth quarter and fiscal 2019.

 

   

For the Three Months Ended

 
   

(Continuing Operations Consolidated)

 
   

November 30, 2019

   

November 30, 2018

 

Sales

  $ 7,514,000     $ 3,787,000  

Operating (Loss)

  $ (100,000 )   $ (1,769,000 )

Net (Loss)

  $ (168,000 )   $ (1,388,000 )

EPS (Basic)

  $ (0.04 )   $ (0.33 )

EPS (Diluted)

  $ (0.04 )   $ (0.33 )
                 

Weighted Average Shares Outstanding:

               

Basic

    4,298,012       4,216,640  

Diluted

    4,298,012       4,216,640  

 

   

For the Twelve Months Ended

 
   

(Continuing Operations Consolidated)

 
   

November 30, 2019

   

November 30, 2018

 

Sales

  $ 22,889,000     $ 19,727,000  

Operating (Loss)

  $ (1,497,000 )   $ (3,095,000 )

Net (Loss)

  $ (1,420,000 )   $ (3,336,000 )

EPS (Basic)

  $ (0.33 )   $ (0.80 )

EPS (Diluted)

  $ (0.33 )   $ (0.80 )
                 

Weighted Average Shares Outstanding:

               

Basic

    4,227,375       4,202,836  

Diluted

    4,227,375       4,202,836  

 

 

The following information was filed by Arts Way Manufacturing Co Inc (ARTW) on Tuesday, February 4, 2020 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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Inside Arts Way Manufacturing Co Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
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
Note 1 - Summary Of Significant Accounting Policies
Note 1 - Summary Of Significant Accounting Policies (Details Textual)
Note 1 - Summary Of Significant Accounting Policies (Tables)
Note 1 - Summary Of Significant Accounting Policies - Basic And Diluted Earnings Per Common Share (Details)
Note 1 - Summary Of Significant Accounting Policies - Contract With Customers (Details)
Note 1 - Summary Of Significant Accounting Policies - Disaggregated Revenue From External Customer (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 Minimum Maturities Of Term Debt (Details)
Note 10 - Loan And Credit Agreements - Summary Of Term Debt (Details)
Note 10 - Loan And Credit Agreements - Summary Of Term Debt (Details) (Parentheticals)
Note 11 - Related Party Transactions
Note 11 - Related Party Transactions (Details Textual)
Note 12 - Sales-Type Leases
Note 12 - Sales-Type Leases (Details Textual)
Note 12 - Sales-Type Leases (Tables)
Note 12 - Sales-Type Leases - Components Related To Sales-Type Leases (Details)
Note 12 - Sales-Type Leases - Future Minimum Lease Receipts (Details)
Note 13 - Employee Benefit Plans
Note 13 - Employee Benefit Plans (Details Textual)
Note 14 - Equity Incentive Plan
Note 14 - Equity Incentive Plan (Details Textual)
Note 14 - Equity Incentive Plan (Tables)
Note 14 - Equity Incentive Plan - Fair Value Assumptions (Details)
Note 14 - Equity Incentive Plan - Option Activity (Details)
Note 15 - Income Taxes
Note 15 - Income Taxes (Details Textual)
Note 15 - Income Taxes (Tables)
Note 15 - Income Taxes - Deferred Tax Assets And Liabilities (Details)
Note 15 - Income Taxes - Income Tax Expense (Benefit) (Details)
Note 15 - Income Taxes - Reconciliation Of The Statutory Federal Income Tax Rate (Details)
Note 16 - Disclosures About The Fair Value Of Financial Instruments
Note 17 - Litigation And Contingencies
Note 18 - Segment Information
Note 18 - Segment Information (Details Textual)
Note 18 - Segment Information (Tables)
Note 18 - Segment Information - Segment Reporting Information (Details)
Note 19 - Subsequent Events
Note 2 - Discontinued Operations
Note 2 - Discontinued Operations (Details Textual)
Note 2 - Discontinued Operations (Tables)
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 Held For Lease
Note 7 - Assets Held For Lease (Details Textual)
Note 7 - Assets Held For Lease (Tables)
Note 7 - Assets Held For Lease - Future Minimum Lease Receipts From Assets Held For Lease (Details)
Note 7 - Assets Held For Lease - Summary Of Assets Held For Lease (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 (Details Textual)
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: 0001437749-20-001888
Submitted to the SEC: Thu Feb 06 2020 2:57:12 PM EST
Accepted by the SEC: Thu Feb 06 2020
Period: Saturday, November 30, 2019
Industry: Farm Machinery And Equipment

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