Form 8-K Titan Machinery Inc. For: Mar 09
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Titan Machinery (TITN) Prelim. Q4, FY15 Results Miss Expectations
March 9, 2015 4:12 PM EDTTitan Machinery (NASDAQ: TITN) reported preliminary financial results for the fiscal fourth quarter and full year ended January 31, 2015.
Preliminary Fiscal 2015 Fourth Quarter Results
For the fourth quarter of fiscal 2015, revenue is expected to be approximately $491 million compared to revenue of $708.6 million in the fourth quarter last year.
The Company is recognizing non-cash impairment charges of approximately $31 million in the fourth quarter of fiscal 2015, primarily related to goodwill and other intangible assets within the Agriculture segment.
Pre-tax loss for the fourth quarter of fiscal 2015 is expected to be approximately $37 million. Excluding the... More
