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1ST QTR: LINDSAY'S SALES DOWN 9%, NET EARNINGS DOWN 87%
Source: Lindsay news release

To view the complete report, click here.

First quarter fiscal 2017 revenues were $110.4 million compared to revenues of $121.6 million in the prior year's first quarter. Net earnings for the quarter were $0.9 million or $0.08 per diluted share compared with $6.9 million or $0.62 per diluted share in the prior year.

Irrigation segment revenues declined 11 percent to $89.9 million from $101.3 million in the prior year's first quarter. U.S. irrigation revenues of $50.3 million declined 15 percent, primarily due to a reduction in irrigation equipment unit volume as falling commodity prices and reduced farm income negatively impacted irrigation equipment demand.

International irrigation revenues for the first quarter were $39.5 million, a decrease of six percent compared to the first quarter of the prior year, as improved sales in Brazil, Africa and the Middle East were more than offset by declines in other markets. Infrastructure segment revenues increased one percent to $20.5 million for the first quarter with increased sales volume in road safety products offset in part by lower Road Zipper system sales and leasing.


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