UPDATE: Titan Machinery FQ1 Profit Up 4.5%
Titan Machinery Inc (NASDAQ: TITN) reported a 4.5% rise in its fiscal first-quarter profit.
Titan Machinery's quarterly profit climbed to $7.6 million, versus $7.27 million, in the year-ago period. Its per-share earnings dropped to $0.36 from $0.40.
Its revenue surged 33% to $421.7 million. However, analysts were expecting earnings of $0.38 per share on revenue of $394 million.
Its gross margin rose to 16.7% from 16.6%.
Titan Machinery shares dropped 7.93% to $30.67 in pre-market trading.
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