Slides on lower Q4 sales and wider loss

Art's Way Manufacturing

08/04/2019 17:21

** Farm equipment maker's shares  ARTW.O  down 11% at $1.93 
    ** Co's Q4 sales drop 23.1% to $4.12 mln, hurt by lower
demand for its grinder, manure spreader and OEM blower product
lines 
    ** Q4 sales also hit by the liquidation of co's Canadian
subsidiary from its agricultural products segment  urn:newsml:reuters.com:*:nPn6d3WkLa
    ** Also posts wider Q4 loss of $606,000 compared to
$527,000, a year earlier 
    ** "Low commodity prices, trade concerns, severe
uncertainty, elevated steel prices, and other factors have
created an environment not conducive to robust equipment sales
activity for our company and peers alike" -  Marc McConnell,
Chairman of co's board of directors
    ** Stock erases all YTD gains, now down ~1 pct this year

 (Reporting by Soundarya J in Bengaluru)
 ((Reuters Messaging:
soundarya.j.thomsonreuters.com@reuters.net))