February 9, 2017 / 9:10 PM / 6 months ago

BRIEF-Titan Machinery reports dealership restructuring plan

Feb 10 (Reuters) - Titan Machinery Inc :

* Titan Machinery Inc - company expects $25 million in annual cost savings from restructuring plan

* Titan Machinery Inc - consolidated locations will be merged into adjacent dealerships

* Titan Machinery Inc - restructuring plan announced today is expected to be completed by end of July 2017

* Titan Machinery Inc. Announces dealership restructuring plan

* Titan Machinery Inc - expects to close 14 agriculture locations during first half of current fiscal year

* Restructuring plan is expected to result in a significant reduction of expenses

* Titan Machinery- reduction in revenue is expected to be approximately $40 million, or less than 4 pct of overall company revenue, on an annual basis from plan

* Titan Machinery - for fiscal 2018, expense reduction is expected to be approximately $20 million from plan

* Titan Machinery- restructuring plan, excluding non-recurring costs to increase adjusted pre-tax income by about $16 million (or $0.44 per diluted share) on annual basis

* Titan Machinery -part of non-recurring pre-tax costs associated with restructuring plan expected to be recognized in Q4 of fiscal 2017

* Titan Machinery - approximately $9.5 million (or $0.26 per diluted share) of costs is expected to be recognized in fiscal 2018 Source text for Eikon: Further company coverage:

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