Today i understod them to say Artsway bought $ 600,000 worth of New Capital equiptment ( manufacturing equiptment )
This included a Automatic Cutoff Band Saw, A 400 ton Press. and 1 other major item ( does anyone remember what this was?? ) for a total of $ 600,000 worth of shop equiptment.
This $ 600,000 is 14 % of 2012 operating income.. Also when the fiscal cliff tax deal of 2012 was structured the First $ 500,000 worth of equiptment purchases can be deducted 100% in the year purchased, so this will reduce federal income tax.
The other thing that really impressed me was the 124% increase in operating income, with only a 32 % increase in Net Sales..( copy paste from earnings..)
2012 net sales= $ 36.5 Million a 31.9 % increase from 2011
Operating Profit= $ 4.32 Million a 124 % increase
Net Income $ 2.66 Million 113 % increase from 2011
The net income for 2012 was 7.28% of the Net Sales..
I say Good Job to All the Employees at Arts way.. don