Titan Machinery Inc was incorporated as a North Dakota corporation in 1980. It owns and operates a network of agricultural and construction equipment stores in North America. The agricultural equipment it sells and services includes machinery and attachments for uses ranging from large-scale farming to home and garden use. The construction equipment it sells and services includes heavy construction and light industrial machinery for commercial and residential construction, road and highway construction and mining applications. It offers its customers a one-stop solution for their equipment needs through: new and used equipment sales; parts sales; repair and maintenance services; and equipment rental and other activities. Titan Machinery acquires used equipment for resale through trade-ins from its customers and selective purchases. It sells parts and provides in-store and on-site repair and maintenance services. Titan Machinery rents equipment and provide other ancillary services such as equipment transportation, GPS signal subscriptions and finance and insurance products. The business is driven by the demand for agricultural equipment, which is purchased primarily for the production of food, fiber, feed grain and renewable energy; home and garden applications; and the maintenance of commercial, residential and government properties. Additionally, Titan Machinery's business is impacted by the demand for construction equipment for use in private and government commercial, residential and infrastructure construction; demolition; maintenance; mining and forestry operations. The Company is subject to competition from other construction equipment dealers who may have more established reputations than the Company. As of July 31, 2007, Titan Machinery employed 555 full-time employees.
Titan Machinery Inc. Announces Fiscal Third Quarter 2008 Results for the Period Ended October 31, 2007Third Quarter Revenue Increased 67% to $132 Million Third Quarter Operating Income Grew 112% to $6 Million
Last update: 11:14 a.m. EST Jan. 11, 2008
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