1409171--4/28/2008--Titan_Machinery

related topics

{condition, economic, financial}

{customer, product, revenue}

{acquisition, growth, future}

{investment, property, distribution}

{control, financial, internal}

{personnel, key, retain}

{regulation, government, change}

{regulation, change, law}

{product, candidate, development}

{product, liability, claim}

{competitive, industry, competition}

{gas, price, oil}

We are substantially dependent upon our relationship with CNH. CNH may terminate its dealership agreements with us or change the terms of those agreements, which could adversely affect our business. Restrictions in our CNH dealership agreements may significantly affect our operations and growth and prevent a change in control of our company. Our agricultural equipment dealer appointments are not exclusive to the geographic areas we serve, which could adversely affect our operations and financial condition. Our operating results may be adversely impacted by an under-supply of new equipment or an over-supply of used equipment. If our acquisition plans are unsuccessful, we may not achieve our planned revenue growth. Our potential inability to successfully integrate newly-acquired dealerships may adversely affect our financial results. Substantial inventory financing is required for the equipment we sell but may not be available, which could adversely affect our growth and results of operations. We lease most of our dealership sites from related parties, and if we are unable to obtain commercially reasonable terms and conditions from these related parties or unrelated third parties in the future, our growth and financial condition may be adversely affected. Failure to properly manage our equipment inventory, our largest asset, would have a significant adverse effect on our operations. Adverse changes in the agricultural industries could result in decreases in purchases of agricultural equipment and harm our revenue and profitability. Adverse changes in governmental agricultural policies, including decreases in farm subsidies, may reduce demand for agricultural equipment and cause our revenue to decline. Adverse changes in the construction industry could result in decreased demand for construction equipment and harm our revenue. Climate fluctuations may negatively impact the agricultural and construction equipment markets and harm our sales. Our results of operations may fluctuate from period to period due to interest rate adjustments. Aggressive pricing competition could adversely affect our results of operation and growth. We are substantially dependent on our Chief Executive Officer and President, the loss and replacement of whom could have a material adverse effect on our business. Selling agricultural and construction equipment and parts subjects us to product liability risks that could adversely affect our financial condition and reputation. Being a public company has substantially increased our legal and financial compliance costs, which could harm our business, financial condition and results of operations. Our internal controls over financial reporting may not be effective and our independent registered public accounting firm may not be able to certify as to their effectiveness, which could have a significant and adverse effect on our business and reputation.

Full 10-K form ▸

1409171--4/28/2008--Titan_Machinery_Inc.