Apr-17-1998 8:17 AM, PRNewswire,
VANCOUVER, Wash., April 17 /PRNewswire/ -- Western Power & Equipment Corp. (Nasdaq: WPEC), an independent dealer of construction and agricultural equipment, today announced that it expects sales and earnings for its third fiscal quarter ending April 30, 1998 to fall significantly short of results compared to the prior year's third fiscal quarter.
Third quarter sales are running well behind the $42.0 million reported in last year's third quarter due, in part, to unseasonably wet weather in much of Western Power's geographic markets as well as the influx of "gray-market" machines from overseas. Earnings will be negatively impacted by the lower sales figure as well as by higher interest expense due to the higher-than-expected inventory level resulting from lower-than-anticipated sales. Western Power expects to report, at best, minimal earnings for its third fiscal quarter.
Western Power & Equipment sells, leases, and services construction equipment for Case and over 30 other manufacturers. The company currently operates 25 retail distribution facilities in Washington, Oregon, northern Nevada, California, and Alaska. SOURCE Western Power & Equipment Corp.
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