ASV Holdings, Inc. Announces Dealer Meeting Success
New Product Launches, New Dealer Sales Incentive Programs, Product Trials and Demos, and New Orders Highlight the September 11-12 Event
GRAND RAPIDS, Minn.--(BUSINESS WIRE)-- ASV Holdings, Inc. (NASDAQ: ASV), a leading provider of rubber-tracked compact track loaders and wheeled skid steer loaders in the compact construction equipment market, today commented on the recently completed “Dealer Meeting” event that the company hosted in Grand Rapids, Minnesota on September 11-12, 2018. Approximately 30 of ASV’s executive and senior sales and marketing leaders were on hand for the two-day event.
Approximately 140 people, representing 75 of the company’s equipment dealers attended the event, spanning 100 locations in 20 states and Canada. Two new products, the RT-25 and RT-65 were unveiled, and the company led focused break-out sessions to discuss new incentive programs intended to expand sales for the company’s compact track loader and skid steer loader products. Attendees also enjoyed a half-day at ASV’s test track facility to watch live demos and operate the RT-25, RT-40, VT-70, RT-75, RS-75 and VS-75 as well as competitors’ machines. Several vendors in attendance were on-hand to provide dealers the opportunity to explore financing, expanded retail servicing and machine attachments, with custom mulching, concrete, and road milling equipment on display and available for sale. During the gala dinner, ASV acknowledged and honored over 20 dealers with 10 years or more representation of the company, and also awarded two 20-year dealers and a rookie of the year dealer with awards for their performance and longstanding work with ASV.
Outstanding power, ground clearance, traction, floatation, comfort and serviceability of the product line remain the most widely-known and heralded characteristics of the industry-leading brand, which is all about getting great work done in more places. The company also today announced that it has received initial orders for new machines for 2018 and 2019 deliveries from this event, including the newly introduced products.
Justin Rupar, Vice President of Sales & Marketing, said, “We are grateful for the commitment from our dealers to visit the Grand Rapids headquarters to meet with the team, and discuss how our new products and new co-op marketing, promotional, financing and discounting programs will enable us to achieve the maximum results for our collective growth opportunities. We look forward to continuing to work together with each of our dealers, new and old, large and small, domestic and abroad to ensure success of the brand, and continued growth in our businesses.”
About ASV Holdings, Inc.
ASV Holdings, Inc. is a designer and manufacturer of compact construction equipment. Its patented Posi-Track rubber tracked, multi-level suspension undercarriage system provides a competitive market differentiator for its Compact Track Loader (CTL) product line with brand attributes of power, performance and serviceability. Its wheeled Skid Steer Loaders (SSLs) also share the common brand attributes. Equipment is sold through an independent dealer network throughout North America, Australia, and New Zealand. The company also sells OEM equipment and aftermarket parts. ASV owns and operates a 238,000 square-foot production facility in Grand Rapids, MN.
This release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “intends” or “continue,” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. Forward-looking statements in this release include, without limitation: (1) projections of revenue, earnings, capital structure and other financial items, (2) statements of our plans and objectives, (3) statements regarding the capabilities and capacities of our business operations, (4) statements of expected future economic conditions and the effect on us and on dealers or OEM customers, (5) expected benefits of our cost reduction measures, and (6) assumptions underlying statements regarding us or our business. Our actual results may differ from information contained in these forward looking-statements for many reasons, including those described in the section entitled “Risk Factors” in our Form 10K for the year ended December 31, 2017, which is available on our EDGAR page at www.sec.gov. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. We discuss many of these risks in greater detail under the heading “Risk Factors” and elsewhere in the Form 10K. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by law, after the date of this release, we are under no duty to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. We obtained the industry, market and competitive position data in this release from our own internal estimates and research as well as from industry and general publications and research surveys and studies conducted by third parties. While we believe that each of these studies and publications is reliable, we have not independently verified market and industry data from third-party sources. While we believe our internal company research is reliable and the market definitions we use are appropriate, neither such research nor these definitions have been verified by any independent source. We from time to time refer to various non-GAAP financial measures in this release. We believe that this information is useful to understanding our operating results by excluding certain items that may not be indicative of our core operating results and business outlook. Reference to these non-GAAP financial measures should not be considered as a substitute for, or superior to, results that are presented in a manner consistent with GAAP. Rather, the non-GAAP financial information should be considered in addition to results that are presented in a manner consistent with GAAP.
Darrow Associates, Inc.
Peter Seltzberg, 516-419-9915
Managing Director, Investor Relations
ASV Holdings, Inc.
Andrew Rooke, 218-327-5389
Chief Executive Officer
Source: ASV Holdings, Inc.
Released September 18, 2018