This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lindsay Corporation Reports Fiscal 2012 Third Quarter Results

Lindsay Corporation (NYSE: LNN), a leading provider of irrigation systems and infrastructure products, today announced results for its third quarter ended May 31, 2012.

Third Quarter Results

Third quarter fiscal 2012 total revenues of $172.1 million increased 12 percent from $153.4 million in the same prior year period. Net earnings were $18.8 million or $1.47 per diluted share compared with $15.3 million or $1.20 per diluted share in the prior fiscal year’s third quarter.

Total irrigation equipment revenues increased 18 percent to $149.6 million from $126.9 million in the prior fiscal year’s third quarter. Domestic irrigation revenues of $105.6 million increased 38 percent, while international irrigation revenues of $44.0 million decreased 12 percent as compared to the same prior year period. Infrastructure revenues decreased 15 percent to $22.5 million.

Gross margin was 28.5 percent compared to 27.0 percent in the prior year’s third quarter reflecting improvements in gross margins in both the irrigation and infrastructure segments. Irrigation gross margins increased as a result of favorable sales mix. Infrastructure margins increased due to improved product pricing in road safety and diversified products along with efforts to lower manufacturing costs.

Operating expenses were $20.2 million in the quarter compared to $18.4 million in the third quarter of the prior fiscal year. The primary element of the expense increase related to personnel related costs including those associated with an acquired company purchased in fiscal 2011. Operating expenses were 11.8 percent of sales in the third quarter of 2012 compared with 12.0 percent of sales in the prior year period. Operating margins of 16.7 percent increased from 15.1 percent in the prior year period.

Cash and cash equivalents of $119.8 million were $19.2 million higher compared with the end of the third quarter last year, while debt decreased $4.3 million over the same period.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,611.97 +15.62 0.09%
S&P 500 2,058.77 +1.13 0.05%
NASDAQ 4,972.88 +14.4120 0.29%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs