West Fargo-based Titan Machinery reports first-quarter revenue of more than $522 million, down from $594 million one year ago. Income from the parts and service divisions was close to a year ago. However, equipment revenue declined from $437 million in the first quarter of last year to $365 million this year. Soft demand for farm equipment shoulders the blame for that downturn. President and CEO Bryan Knutson said used equipment values have stabilized after nearly two years of declines. “We’ve seen stability in used equipment prices after about 18 months, going on two years, of sequentially falling used equipment values. That stability has been good on the used side,” Knutson said.
