Long Term Stock Earnings News
ASV Announces 4th Quarter 2005 Results; 4th Quarter Sales Increase 37%, EPS up 61% to $.29; Full Year Sales of $245 million, EPS Totals $1.01
GRAND RAPIDS, Minn.--(Business Wire)--March 8, 2006--
ASV, Inc. (Nasdaq:ASVI):
Highlights for the Fourth Quarter and Fiscal Year 2005
-- Fourth quarter 2005 net sales grow 37% to $66.0 million as
compared to fourth quarter 2004
-- Sales driven by strong demand for R-Series products, increased
OEM undercarriage sales, dealer network expansion and
increases in accessory sales
-- Realized price increases, continued benefits from volume
increases and strategic investments in production equipment,
and increased sales of higher-margin machines and accessories
offset lower gross margins on Caterpillar parts, produce a
gross margin of 24.8% for the quarter
-- EPS for fourth quarter of 2005 increases 61% to $.29 per
share, as compared to fourth quarter 2004, including $.03 due
to a one-time gain from sale of non-strategic product line and
a lower effective tax rate for the fourth quarter of 2005
-- Full year sales up 52% to $245.1 million
-- Full year EPS up 58% to $1.01
ASV, Inc. (Nasdaq:ASVI) today reported results for its fourth
quarter and fiscal year ended December 31, 2005. Net sales for the
fourth quarter of 2005 increased 37% to $66.0 million, compared to
$48.1 million for the same period in 2004. Assisted by a 246 basis
point improvement in its gross profit percentage, the sale of a
non-strategic product line and a lower effective tax rate, net
earnings for the fourth quarter of 2005 grew 64% to $8.2 million,
compared with net earnings of $5.0 million for the fourth quarter of
2004. Diluted earnings per share for the fourth quarter of 2005
increased 61% to $.29 compared with $.18 for the fourth quarter of
2004. The earnings per share in the fourth quarter of 2005 included
approximately $.02 associated with the finalization of the new
Domestic Production Activities Deduction regulations, and
approximately $.01 from the sale of a non-strategic product line by
ASV's subsidiary Loegering Mfg., Inc.
*T
ASV, Inc.
Investor Relations:
Lisa Walsh, 218-327-5367
lwalsh@asvi.com
Copyright Business Wire 2006
08Mar06 12:00 GMT
Symbols:
de;ASZ us;ASVI
Source BW Business Wire
