Titan Machinery Q1 Loss Widens; Backs FY15 Outlook - Quick Facts

(RTTNews) - Titan Machinery Inc. (TITN) reported wider first-quarter loss of $4.1 million or $0.20 per share compared with $409 thousand or $0.02 per share last year. Net loss for the current quarter includes the after-tax store closing costs of $1.9 million.

On an adjusted basis, net loss totaled $2.2 million, or $0.11 per share. On average, 10 analysts polled by Thomson Reuters expected the company to report loss per share of $0.06 for the quarter. Analysts' estimates typically exclude special items.

The company's revenue was up 5.4 percent to $465.5 million from $441.7 million in the first quarter of 2013. Analysts expected revenue of $411.52 million for the quarter.

For the full year ending January 31, 2015, the firm backed its outlook and continues to expect earnings per share in the range of $0.59 - $0.89. On an adjusted basis, earnings per share is expected to remain between $0.70 and $1.00. The firm continues to project annual revenues to lie between $1.95 billion and $2.15 billion. Analysts expect the company to report fiscal year profit per share of $1.18 on revenue of $2.11 billion.