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BRIEF-Titan Machinery reports Q2 loss per share of $0.24
2017年8月31日 / 上午11点23分 / 23 天前

BRIEF-Titan Machinery reports Q2 loss per share of $0.24

Aug 31 (Reuters) - Titan Machinery Inc:

* Announces results for fiscal second quarter ended July 31, 2017

* Company reduced used equipment inventory during first six months of fiscal 2018 by $25 million or 15.6 percent

* Q2 loss per share $0.24

* Q2 adjusted loss per share $0.04

* Q2 earnings per share view $-0.01 -- Thomson Reuters I/B/E/S

* Q2 revenue $268.9 million versus i/b/e/s view $259.9 million

* ‍Restructuring costs were $5.5 million for Q2 of fiscal 2018​

* ‍Extent, timing of reductions will result in about $200 million of operating expenses, exclusive of restructuring costs, for current fiscal year​

* Non-recurring pre-tax costs associated with restructuring plan estimated to be additional $4.0 million for second half of fiscal 2018​

* Sees fiscal 2018 loss per share $0.15 to $0.35

* Believe agriculture equipment inventory environment continues to stabilize as we improved equipment margins

* Now believe will achieve an approximate annual expense reduction of $20 million compared to previously expected $25 million​

* Company’s inventory level increased to $517.5 million as of July 31, 2017, compared to $478.3 million as of January 31, 2017​ Source text for Eikon: Further company coverage:

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