Art's Way Manufacturing: Drops as reduced farm activity hits results

Art's Way Manufacturing

09/07/2020 19:13

** Farm machinery maker's  ARTW.O  shares slip as much as
9.3% to $2.35     
    ** ARTW's quarterly sales drop 5.2% to $5.4 mln due to lower
orders for its farm equipment as restaurant closings across the
U.S. reduced demand for agricultural products  urn:newsml:reuters.com:*:nPnbzmsZva
    ** Its loss widened to 18 cents/shr in Q2, from loss of 8
cents/shr a year earlier, also hurt by expenses related to
finding and training new management staff 
    ** "The disruptions to labor availability and incoming order
activity brought on by COVID-19 were significant" - Chairman
Marc McConnell 
     ** Despite session's losses, stock is up 32.8% this year

 (Reporting by Taru Jain)
 ((taru.jain@thomsonreuters.com))