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ART'S-WAY ANNOUNCES THIRD QUARTER SALES AND EARNINGS

 ART'S-WAY ANNOUNCES THIRD QUARTER SALES AND EARNINGS
 ARMSTRONG, Iowa, March 24 /PRNewswire/ -- Art's-Way Manufacturing


Co., Inc. (NASDAQ: ARTW) reported 1992 third quarter sales of $3.5 million with a resulting loss of $353,000. This compares to 1991 third quarter sales of $4.8 million and a profit of $325,000. 1992 YTD sales are $15.0 million with a profit of $262,000. This compares to 1991 YTD sales of $15.4 million and $920,000 in profit. Third quarter losses as compared to last year's profit were a result of a $182,000 margin loss due to reduced volume and $524,000 in under-absorbed manufacturing overhead.
 Art's-Way reported in September 1991 that its major OEM customer, J.I. Case, significantly reduced their Fall '91 and Spring '92 orders due to a soft market and large field inventories. Management has since reacted to that cut-back in orders by purchasing assets of Eversman Manufacturing; placing more emphasis on Art's-Way sales and marketing; and by introducing 3 new products. The Eversman acquisition has already resulted in over $400,000 in sales. One of the new products, the Grixxer (a Grinder-Mixer), has already resulted in over $800,000 in sales. The second new product, AgScale, a line of electronic farm scales, is just reaching production and the third new product, a new sugar beet harvester, is scheduled for shipments in August.
 Due to current backlog, management projects sales during the fourth quarter of fiscal 1992 to be substantially better than the third quarter. The first two quarters of fiscal 1993 are projected to remain soft. In addition to minimizing expenses and reducing inventory, Art's- Way will continue with the strategy implemented during the first quarter of placing heavy emphasis on improving distribution, strengthening marketing and adding new products. These changes have reduced the severity of the impact during the third quarter and should continue to reduce the impact of a soft market in the future.
 -0- 3/24/92
 /CONTACT: William T. Green of Art's-Way, 712-864-3131/
 (ARTW) CO: Art's-Way Manufacturing Co., Inc. ST: Iowa IN: MAC SU: ERN


AL -- MN015 -- 1209 03/24/92 15:42 EST
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Date:Mar 24, 1992
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