Commodity prices continue to support improved irrigation equipment demand. The USDA projects the U.S. 2012 net farm income to be the second-highest on record, only slightly less than 2011 and 28% higher than the 10-year average, continuing to create positive economic conditions for U.S. farmers. The global long-term market drivers of improving diets and a growing population, combined with water use efficiencies available for mechanized irrigation systems, continue to be positive drivers for irrigation equipment demand.Infrastructure segment revenues decreased 47% to $15.1 million in the quarter due primarily to lower QMB system sales. Infrastructure revenues excluding QMB system sales decreased 4% from the second quarter of last year, reflecting flat revenue from the road safety products and lower revenues in railroad signaling structures. QMB system sales were more than 85% lower in the quarter than the same quarter last year due to a sizable project in the comparable period last year and delays in anticipated projects this fiscal year.
Lindsay's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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