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<SEC-DOCUMENT>0000007623-07-000010.txt : 20070717
<SEC-HEADER>0000007623-07-000010.hdr.sgml : 20070717
<ACCEPTANCE-DATETIME>20070717151005
ACCESSION NUMBER:		0000007623-07-000010
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070531
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20070717
DATE AS OF CHANGE:		20070717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARTS WAY MANUFACTURING CO INC
		CENTRAL INDEX KEY:			0000007623
		STANDARD INDUSTRIAL CLASSIFICATION:	FARM MACHINERY & EQUIPMENT [3523]
		IRS NUMBER:				420920725
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05131
		FILM NUMBER:		07984014

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 288
		CITY:			ARMSTRONG
		STATE:			IA
		ZIP:			50514
		BUSINESS PHONE:		7128643131

	MAIL ADDRESS:	
		STREET 1:		P O BOX 288
		CITY:			ARMSTRONG
		STATE:			IA
		ZIP:			50514
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>may078kn.txt
<TEXT>
                          UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                     Washington, D. C. 20549

                            FORM 8-K

                         CURRENT REPORT
                 PURSUANT TO SECTION 13 OR 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934

  Date of Report (Date of earliest event reported) July 16, 2007

               ART'S-WAY MANUFACTURING CO., INC.
    (Exact Name of Registrant As Specified In Its Charter)

                            Delaware
          State or Other Jurisdiction of Incorporation
            0-05131                        42-0920725
	(Commission                  (IRS Employer File No.)
    Identification Number)

                          P.O. Box 288
                      Armstrong, Iowa 50514
        (Address of Principal Executive Offices) (Zip Code)

                         (712) 864-3131
        (Registrant's Telephone Number Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instructions A.2 below):

___ Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

___ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)

___ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

___ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CRF 240.13e-4 (c))


                            Form 8-K

Item 2.02 Results of Operations and Financial Condition.

    Art's-Way Manufacturing Co., Inc., (the "Company") issued a press
release on July 16, 2007, with earnings information on the Company's
fiscal quarter and six months ended May 31, 2007. The press release is
furnished with this Form 8-K as Exhibit 99.1

Item 9.01 Financial Statements and Exhibits.

    Exhibit 99.1. Press Release issued by the Company on July 16, 2007.

    The information contained in this Current Report on Form 8-K under Item
2.02, including Exhibit 99.1 referenced in Item 9.01, is being
"furnished" pursuant to Item 2.02 of Form 8-K and, as such, shall not be
deemed to be "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that Section. The information in Item 2.02 of this
Current Report shall not be incorporated by reference into any
registration statement or other document pursuant to the Securities Act
of 1933, as amended, except as shall be expressly set forth by specific
reference in such filing.

                             SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                        ART'S-WAY MANUFACTURING CO., INC.

Date: July 17, 2007                     By: /s/ Carrie L. Majeski
                                                Carrie L. Majeski
                                                Chief Financial Officer

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exhib991.txt
<TEXT>
                         Exhibit 99.1

NASDAQ:ARTW                  CONTACT: Carrie Majeski (712) 864-3131

        ART'S-WAY SECOND QUARTER AND 6 MONTHS RESULTS

ARMSTRONG, IOWA - Art's-Way Manufacturing Co., Inc. today (July 13,
2007) released the following results for the fiscal quarter and six
months ended May 31, 2007.

Highlights:
     " Year to date net sales increased $2,560,000 compared to
       the same period a year ago.
     " Year to date gross profit increased $518,000 compared to
       the same period a year ago.

               (All figures in thousands of dollars except per share amounts)

                                                     Quarter Ended
                                             May 31, 2007    May 31, 2006

Net Sales . . . . . . . . . . . . . . .	       $ 5,699         $ 4,112
Gross Profit  . . . . . . . . . . . . .          1,685           1,289
Income from Operations . . . . . . . .             738             310
Interest and Other Expense. . . . . .              (99)             75
Income before Income Taxes . . . . . .             837             235
Income Tax Expense (Benefit). . . . . .            279              82
Net Income . . . . . . . . . . . . . .             558             153
Basic Income Per Share (a). . . . . . .	         $ .28           $ .08
Diluted Income Per Share (b) . . . . .             .28             .08

                                                     Six Months Ended
                                             May 31, 2007    May 31, 2006

Net Sales . . . . . . . . . . . . . . .	      $ 10,974         $ 8,414
Gross Profit. . . . . . . . . . . . . .	         3,183           2,665
Income from Operations . . . . . . . . .         1,245             801
Interest and Other Expense . . . . . . .          (176)            141
Income before Income Taxes . . . . . . .         1,421             660
Income Tax Expense (Benefit) . . . . . .           483             235
Net Income . . . . . . . . . . . . . . .           938             425
Basic Income Per Share (a) . . . . . . .         $ .47           $ .22
Diluted Income Per Share (b) . . . . . .           .47             .21

(a)   Basic income per share based on the weighted average number of
shares outstanding 1,978,176 and 1,972,796 for the quarter; and
1,978,176 and 1,968,451 for the six months ended May 2007 and 2006,
respectively.
(b)   Diluted income per share based on the weighted average number of
shares outstanding 1,983,182 and 1,979,570 for the quarter; and
1,982,614 and 1,977,619 for the six months ended May 2006 and 2005,
respectively.

Our consolidated net sales for the six months ended were $10,974,000,
representing a 30% increase compared to the same period one year ago. A
majority of this increase was due to the inclusion of Art's-Way
Scientific, Inc., net sales of $2,346,000, for the six months just
ended. Art's-Way Scientific, Inc. was acquired in August of 2006 and
therefore was not included in last year's six months results. Art's-Way
Manufacturing had revenues totaling $6,374,000 for the six months,
compared to $6,929,000 for the same period in 2006. This decrease was
due primarily to a reduction in sales of blowers to our OEM dealers.
Art's-Way Vessels had revenues totaling $2,254,000 for the six months
ended, compared to $1,485,000 for the same period in 2006. Art's-Way
Vessels has succeeded in increasing sales since our acquisition by
improving on time delivery of our quality product to new and existing
customers.

Consolidated gross profit increased during the quarter to 30%
compared to 28% in the first quarter. Year to date gross profit is 29%
compared to 32% in 2006. When we purchased Art's-Way Scientific we also
purchased their backlog and had to honor pricing from the prior owners.
Art's-Way Scientific's gross profit was 20% for the first quarter of
2007. Year to date, their gross profit has now increased to 28%.
Art's-Way Manufacturing's gross profit was 28% while Art's-Way Vessel's
was 34% year to date.

Operating expenses for the quarter decreased $32,000 compared to 2006.
As a percent of sales, operating expenses decreased by seven percentage
points 17% in 2007 compared to 24% in 2006. Year to date operating
expenses are 18% compared to 22% in 2006. Art's-Way Manufacturing's year
to date operating expense as a percentage of sales was 22%, Art's-Way
Vessel 11% and Art's-Way Scientific was 14%.

Interest expense year to date remains consistent. Other income increased
by $312,000 in 2007 compared to 2006 as a result of our accounting for
the fire and insurance recoveries in Monona, Iowa.

As previously disclosed on January 16th, 2007, one of our buildings in
Monona, Iowa, was completely destroyed by fire. The building housed the
production and offices for Art's-Way Scientific. The 36,000 square foot
building was a stick built structure with steel siding. We were insured
for the loss of the building, its contents as well as the disruption in
business. We are currently working with our insurance company to settle
the claim. At this time we have received $500,000 towards the claim and
we have booked a receivable for the estimated loss of the building of
$983,000. We have incurred costs in excess of $900,000 related to the
fire, including $334,000 in losses of fixed assets. We are currently
working from one of our other buildings in Monona, Iowa. We have started
construction on our replacement building. The new building will be
located in Monona on the same site as the building that was destroyed.
It is our intent to be in a new building by September 2007. We continue
to manufacture buildings and have not lost any orders to date.

The order backlog as of May 31, 2007 is $12,105,000 compared to
$5,790,000 one year ago. Art's-Way Manufacturing's order backlog as of
May is $4,325,000 compared to $3,099,000 in 2006, Art's-Way Vessels
backlog is $1,682,000 compared to $2,691,000 in 2006, and Art's-Way
Scientific's backlog is $6,097,000.

Art's-Way manufactures and distributes farm machinery niche products
including animal feed processing equipment, sugar beet, land maintenance
equipment, finished mowing, crop shredding equipment, plows and seed
planting equipment. Art's-Way also produces haylage machinery for
original equipment manufacturers (OEM's). After market service parts are
also an important part of the Company's business. We have two wholly
owned subsidiaries, Art's-Way Vessels Inc. manufactures pressurized
tanks and vessels and Art's-Way Scientific Inc. manufactures modular
animal confinement buildings and modular laboratories.

This news release includes "forward-looking statements" within the
meaning of the federal securities laws. Statements of anticipated future
results are based on current expectations and are subject to a number of
risks and uncertainties, including but not limited to, quarterly
fluctuations in results, customer demand for the Company's products,
domestic and international economic conditions, the management of growth
and other risks detailed from time to time in the Company's Securities
and Exchange Commission filings. Actual results may differ markedly from
management's expectations. The Company cautions readers not to place
undue reliance upon any such forward-looking statements.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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