Titan Machinery raises revenue forecast

Thu Dec 6, 2012 7:01am EST

Dec 6 (Reuters) - Titan Machinery Inc's quarterly results beat analysts' expectations and the farm equipment retailer raised its revenue forecast for the fiscal year.

Titan said it expects revenue of between $2.0 billion and $2.15 billion for the year ending January 2013, above its prior forecast of $1.95 billion to $2.1 billion.

Net income attributable to common stockholders rose to $13.9 million, or 66 cents per share, in the quarter ended October, from $12.7, or 61 cents per share, a year earlier.

Revenue jumped 38 percent to $582.1 million.

Analysts on average expected earnings of 65 cents per share, excluding items, on revenue of $512.8 million, according to Thomson Reuters I/B/E/S.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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