Titan Machinery reports first quarter profits of $54 million on gross income of $278 million. That compares to a profit of $47.6 million one year ago.Titan Chief Financial Officer Mark Kalvoda says the revenue increase was across all business segments.“Equipment revenue was up 15.6 percent, parts and service was up 10.7 percent and 14 percent respectively.” Equipment sales for the first quarter are reported $194 million compared to $168 million last year. Parts sales are up $5 million from last year to $52 million. Titan says operating expenses increased by nearly $6 million to $52.6 million.
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