October 19, 2017 9:53 PM ET

Machinery

Company Overview of ASV Holdings, Inc.

Company Overview

ASV Holdings, Inc. designs and manufactures compact construction equipment in North America, Australia, and New Zealand. It offers compact track loader and skid steer loader equipment under the ASV and Terex brands. The company also offers private label original equipment manufacturing services; and pre-and post-sale dealer support, after-sale technical support, and replacement parts. ASV Holdings, Inc. offers its products primarily for use in the construction, agricultural, and forestry industries. The company was founded in 1983 and is based in Grand Rapids, Minnesota.

840 Lily Lane

Grand Rapids, MN 55744

United States

Founded in 1983

153 Employees

Phone:

218-327-3434

Fax:

218-327-9122

Key Executives for ASV Holdings, Inc.

Chairman and Chief Executive Officer
Age: 59
Total Annual Compensation: $422.4K
Chief Financial Officer and Secretary
Age: 47
Total Annual Compensation: $175.6K
Chief Operating Officer
Age: 60
Total Annual Compensation: $287.7K
Compensation as of Fiscal Year 2016.

ASV Holdings, Inc. Key Developments

ASV Holdings, Inc. to Relocate Parts Distribution Facility to Grand Rapids, Minnesota

ASV Holdings, Inc. announced that it will establish a new parts distribution center adjacent to its corporate headquarters and manufacturing plant in Grand Rapids, Minnesota. The new facility is expected to enable the company to more effectively manage aftermarket parts distribution to its dealer network, and will also result in meaningful yearly operating cost savings beginning in 2018. The transition of these operations to Grand Rapids is expected to be completed during the second quarter of 2018. A key factor in the relocation decision was that as a result of bringing increased employment and economic activity to area in Minnesota, the company has been approved to qualify for Minnesota State funds and assistance totaling approximately $450,000. This comprises financing at zero or low interest rates and includes partial forgiveness after a qualifying period. The net cash cost to the company is expected to be approximately 60% of the costs of establishing this new facility.

ASV Holdings, Inc. Presents at Dougherty and Company Institutional Investor Conference, Sep-19-2017

ASV Holdings, Inc. Presents at Dougherty and Company Institutional Investor Conference, Sep-19-2017 . Venue: Millennium Hotel, 1313 Nicollet Mall, Minneapolis, Minnesota, United States. Speakers: Andrew M. Rooke, Chairman and Chief Executive Officer.

ASV Holdings, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

ASV Holdings, Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company announced net sales of $34,240,000 against $27,271,000 a year ago. Operating income was $2,009,000 against $2,057,000 a year ago. Income before taxes was $1,123,000 against $770,000 a year ago. Net income was $1,752,000 or $0.20 per basic and diluted share against $770,000 or $0.10 per basic and diluted share a year ago. Pro forma net income was $719,000 or $0.08 per basic and diluted share against $493,000 or $0.06 per basic and diluted share a year ago. EBITDA was $3.3 million compared to $3.3 million a year ago. Adjusted EBITDA was $3.4 million compared to $3.3 million a year ago. For the six months, the company announced net sales of $62,250,000 against $55,741,000 a year ago. Operating income was $3,119,000 against $3,084,000 a year ago. Income before taxes was $1,355,000 against $511,000 a year ago. Net income was $1,984,000 or $0.24 per basic and diluted share against $511,000 or $0.06 per basic and diluted share a year ago. Pro forma net income was $867,000 or $0.10 per basic and diluted share against $327,000 or $0.04 per basic and diluted share a year ago. Net cash provided by operating activities was $5,948,000 against $376,000 a year ago. Purchase of property and equipment was $182,000 against $202,000 a year ago. EBITDA was $5.6 million compared to $5.5 million a year ago. Adjusted EBITDA was $5.7 million compared to $5.5 million a year ago.

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