Titan Machinery’s fourth quarter revenue is up 6.6 percent over last year to $359.6 million. Gross profits for the quarter are up $3.5 million from last year to $55.6 million. Titan Machinery Chief Financial Mark Kalvoda says equipment revenue drove the gross profits. “The benefit of higher equipment margins is largely offset by a change in gross profit mix, which was a result of a higher portion of equipment revenue as compared to higher margin parts and service revenue.” Full year revenue increased 5.8 percent to $1.3 billion and net income for the 2019 fiscal year was $12.2 million. Kalvoda says the increase in revenue is largely by equipment and parts sales.
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