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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Lindsay Earnings Decline 0 comments
    Mar 26, 2014 11:27 AM | about stocks: LNN

    Originally published at www.seclive.com

    Lindsay Corporation (NYSE:LNN) announced its financial results for the second fiscal quarter 2014, posting earnings that fell from the year-ago period. The irrigation equipment maker reported earnings that fell from $19.4M and $1.50 per share to $13.5M and $1.04 per share, missing analyst expectations of $1.13 per share. Revenue of $152.8M missed analyst predictions of $162.9M and was down from $175.5M in the year-ago quarter. U.S. irrigation revenue fell 21% to $92.8M while international revenues fell 5% to $43.1M. Overall irrigation equipment revenues fell 16% from $162.7M to $135.9M, attributed primarily to lower crop prices while infrastructure revenues jumped 32% to $16.9M. President and CEO Rick Parod commented that the company is focused on managing margins and momentums while contending with political issues in Russia and the Ukraine that will impact its international revenue.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: LNN
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