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Titan Machinery boosts 2009 profit guidance

By Associated Press
June 16, 2008 | Comments (0)

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Titan Machinery, which operates agricultural and construction equipment stores, on Monday boosted its earnings guidance for the full 2009 fiscal year.

The company said it now expects earnings per share between 86 cents and 91 cents for the year ending Jan. 31. Previously, the company forecast earnings per share of 77 cents to 82 cents.

Titan now expects revenue between $575 million and $625 million, up from its prior forecast of between $550 million and $600 million.

The company added it will have about 3.1 million more shares outstanding in the year due to a recent stock offering.

In premarket electronic trading, shares rose $2.60, or 9.3 percent, to $30.50, from their Friday close at $27.90.

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