TITN

[kslifka]

Earnings look really good.

Titan Machinery Inc. Announces Fiscal Third Quarter 2008 Results for the Period Ended October 31, 2007
Friday January 11, 6:00 am ET
Third Quarter Revenue Increased 67% to $132 Million
Third Quarter Operating Income Grew 112% to $6 Million

FARGO, N.D.--(BUSINESS WIRE)--Titan Machinery Inc. (Nasdaq:TITN - News), a leading network of full service agriculture and construction equipment stores, today reported financial results for the three- and nine-month periods ended October 31, 2007.

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Three Month Results

For the third quarter, revenue increased 67% to $132 million from revenue of $79 million for the third quarter of the prior year. All three of the Company's main revenue sources ─ equipment, parts and services ─ contributed to this period-over-period revenue growth. Equipment sales were $103 million, up 78% from $58 million in the same period last year. Parts sales increased 42% to $18 million for third quarter, from $13 million in the prior-year period. Revenue generated from services was $8 million in the quarter compared to $6 million in the third quarter of last year.

Gross profit for the fiscal third quarter increased 54% to $20 million, compared to $13 million in the third quarter of the prior year. The Company's gross profit margin was 15.4% in the fiscal third quarter versus 16.7% in the third quarter of the prior year. This expected decrease in gross margin was the result of a higher percentage of revenue being generated from equipment sales compared to the higher margin parts and service business.

Operating income for the fiscal third quarter ended October 31, 2007 was $6.0 million compared to $2.8 million in the same period a year ago. The Company's operating margin increased to 4.5% from 3.6%. This improvement in operating income and margin was due to strong revenue growth, strength of the industry and the Company's proven business model.

Net income for the fiscal third quarter ended October 31, 2007 was $2.7 million, or $0.36 per diluted share, versus net income of $0.8 million, or $0.13 per diluted share, for the third quarter last year.

"We are extremely pleased with our growth for the third quarter and first nine months of this fiscal year, store expansion and operating improvements. Third quarter sales increased in all three of our revenue sources—equipment, parts, and services—underscoring both our successful organic growth as well as growth through selective acquisitions. Notably, our equipment sales grew 67% year-over-year, driven by many factors including our superior offerings as well as the current strength of our industry," said David Meyer, Titan Machinery's Chairman and Chief Executive Officer. "We believe that our strong store Titan Operating Model allows us to bring the best value and service to our customers throughout the Midwest and to continue to have success through organic growth as well as additional acquisitions."

Nine Month Results

For the nine months ended October 31, 2007, revenue increased $89.2 million, or 42.8%, to $297.8 million from revenue of $208.6 million in the same period last year. Net income was $4.9 million, or $0.72 per diluted share, for the period, compared to net income of $2.3 million, or $0.36 per diluted share, in the same period last year.

Acquisitions

During the fiscal third quarter ended October 31, 2007, the Company acquired Red Power International with two dealerships in Minnesota, bringing its total number of dealerships at the end of the third quarter to 34. Since the end of the third quarter, the Company has acquired four additional dealerships (Twin City Implement, Reiten & Young International, Avoca Implement and Greenfield Implement).

[kslifka]

Put in a new 52 week high after earnings this morning.

Market cap only $69 million.

[bjc]

Looks good.

[422fwhp]

I've been a contrarian lately (profitable too) and shorted a little of this...eye-balling that gap at $13.

[kslifka]

I've been a contrarian lately (profitable too) and shorted a little of this...eye-balling that gap at $13.

422whp...good call on this short.  Hope you covered...after the big drop yesterday morning.

TITN..has been showing great strength in this horrid market.

[422fwhp]

I've been a contrarian lately (profitable too) and shorted a little of this...eye-balling that gap at $13.

422whp...good call on this short.  Hope you covered...after the big drop yesterday morning.

TITN..has been showing great strength in this horrid market.

I sure did cover!  Still mostly cash though.  I did manage to scoop up some COIN this morning before it's little rally.  We shall see.  I'm still very skeptical of the overall market.

Jody

[kslifka]

I've been a contrarian lately (profitable too) and shorted a little of this...eye-balling that gap at $13.

422whp...good call on this short.  Hope you covered...after the big drop yesterday morning.

TITN..has been showing great strength in this horrid market.

I sure did cover!  Still mostly cash though.  I did manage to scoop up some COIN this morning before it's little rally.  We shall see.  I'm still very skeptical of the overall market.

Jody

Yes...I was looking a COIN this morning...but never bought.  Chart looks great...I think if the markets in general (other than the Nasdaq) finish positive we should get a short term rally.  But once again...who knows what bad news these banks will through at us in the coming days.

[422fwhp]

I sold near the end of the day for around 18-19% profit....I'll take that everytime if they'll let me!

[bjc]

TITN is having a good day.  I think it has the potential to really move..

Chart looks nice.  I haven't said that in a while...lol.

[kslifka]

TITN's really been getting some attention lately.  I think TITN should steadily go up as we head into the spring planting season. 

AG has been hot in the Upper Midwest where the Titan Machinery office is located (Fargo, ND)

Sorry, Stock charts not working properly this afternoon.   But here's the chart anyway

[422fwhp]

chart

[bjc]

#3 on the IBD 100.

I wish I hadn't sold this one for a small gain in the 16s....