The accrual is based on preliminary findings and plans which have not yet been finalized, nor have the specifics of the action plan been agreed to by the EPA or Lindsay. So this estimate is subject to change. I'm confident that the expenses required to address this environmental obligation will not materially impact the company's liquidity or financial resources or long-term trajectory for our growth, nor will this expense impact the extent to which we invest in growth for the advancement of our competitive position.Now I'd like to move on to discuss the underlying performance of our business in the quarter as noted, exclusive of the $7.2 million in environmental expense. Global irrigation sales grew 68% to $101 million in the quarter with segment operating margins exclusive the environmental remediation expenses of 15.6%. U.S. irrigation revenues totaled $60.7 million for the first quarter, increasing 66% over the same period last year.
Lindsay's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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