SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
_________________________________
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the Quarter Ended August 31, 1997 Commission File No. 0-5131
ART'S-WAY MANUFACTURING CO., INC.
(Exact name of registrant as specified in its charter)
DELAWARE 42-0920725
State of Incorporation I.R.S. Employer Identification No.
Hwy 9 West, Armstrong, Iowa 50514
Address of principal executive offices Zip Code
Registrant's telephone number, including area code: (712) 864-3131
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange
Act of 1934 during the preceding 12 months, and (2) has been subject to
such filling requirements for the past 90 days. Yes X No __
Indicate the number of shares outstanding of each of the issuer's classes
of common stock as of September 23, 1997:
1,245,931
Number of Shares
SIGNATURES
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, thereunto duly authorized.
ART'S-WAY MANUFACTURING CO., INC.
Date October 14, 1997 /s/ J. David Pitt
President
Date October 14, 1997 /s/ William T. Green
Executive Vice President,
Chief Financial Officer
Appendix A to Item 601(c) of Regulation S-K
Commercial and Industrial Companies
Article 5 of Regulation S-X
Item Number Item Description Amount
5-02(1) Cash and cash items 3,375
5-02(3)(a)(1) Notes and accounts receivable-trade 4,044,325
5-02(4) Allowances for doubtful accounts 28,000
5-02(6) Inventory 8,895,056
5-02(9) Total current assets 13,810,822
5-02(13) Property, plant and equipment 10,365,057
5-02(14) Accumulated depreciation 7,494,346
5-02(18) Total assets 16,681,533
5-02(21) Total current liabilities 7,970,639
5-02(30) Common stock 13,408
5-02(31) Other stockholders' equity 7,002,031
5-02(32) Total liabilities and stockholders'
equity 16,681,533
5-03(b)1(a) Net sales of tangible products 5,590,236
5-03(b)1 Total revenues 5,590,236
5-03(b)2(a) Cost of tangible good sold 3,743,072
5-03(b)2 Total cost and expenses applicable to
sales and revenues 1,073,702
5-03(b)3 Other costs and expenses 200,486
5-03(b)5 Provision for doubtful accounts and notes 3,000
5-03(b)8 Interest and amortization of debt discount 144,111
5-03(b)10 Income before taxes and other items 572,976
5-03(b)11 Income tax expense 200,543
5-03(b)14 Income continuing operations 372,433
5-03(b)19 Net income or loss 372,433
5-03(b)20 Earnings per share - primary 0.30
