ASV Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Full Year 2018
For the six months, the company reported net sales of $61,729,000 against $62,250,000 a year ago. Operating income was $935,000 against $3,119,000 a year ago. Income before taxes was $20,000 against $1,355,000 a year ago. Net income was $12,000 or $0.00 per basic and diluted share against $1,984,000 or $0.24 per basic and diluted share a year ago. Net cash provided by operating activities was $434,000 against $5,948,000 a year ago. Purchase of property and equipment was $501,000 against $182,000 a year ago.
The company's 2018 sales are likely to be restricted to show only high single digit growth and remain subject to how the pricing environment evolves and markets adjust to the business environment. Tax rate projected at 18% for the year.