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Titan lifts guidance, citing 'strong ag market'
12.12.2011 09:55 "Agro Perspectiva" (Kyiv) —
Titan Machinery lifted its full-year results guidance after a reporting a rise in quarterly earnings way above that Wall Street had expected, lifted by a «strong agriculture market».
The North Dakota-based farm machinery retailer, which is expanding into Europe, raised its estimate for sales for the year to the end of next month to $1.425bn-1.5bn, from $1.330bn-1.405bn, putting its guidance back above analysts hopes.
Earnings per share will hit $1.761.86, more than the $1.561.66 previously forecast, and the $1.66 expected by Wall Street.
«We are positioned to deliver another record year for revenue and net income,» David Meyer, the Titan Machinery chairman and chief executive, said.
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