Armstrong, Iowa-based Art's Way Manufacturing Co. Inc. announced today a 41.8 percent decrease in its net income in the fiscal year ending Nov. 30, 2013, compared with fiscal 2012. The company had net income of $1.55 million, or 38 cents per share, in fiscal 2013, down from $2.67 million, or 66 cents per share, in fiscal 2012. Operating income was $1.82 million, down from $4.33 million. Net sales were $34.23 million, down from $36.46 million in the prior year. The company attributes the decreased to a contract in its modular buildings segment of which most of the revenue was recognized in fiscal 2012. Art's Way manufactures and distributes farm machinery niche products, including animal feed processing equipment and land maintenance equipment. For more information, click here.