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TITAN announces record quarterly revenue and income from operations
10.05.2011 11:32 "Agro Perspectiva" (Kyiv) —
Titan’s first quarter of 2011 produced record quarterly sales of $280.8 million and generated a record income from operations of $26.9 million with a record gross margin of 20.0 percent.
First quarter summary:
•Sales for first quarter 2011 were $280.8 million up 43 percent, compared to $196.4 million in the first quarter of 2010.
•Gross profit for first quarter 2011 was $56.3 million up 116 percent, compared to $26.1 million in 2010.
•First quarter income from operations was $26.9 million up 165 percent, compared to $10.1 million last year.
•Adjusted net income for the first quarter was $18.7 million, compared to $2.1 million in the first quarter of last year (see table and appendix below).
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