Lindaay Corp. (NYSE: LNN) reported Q1 EPS of $0.62, $0.07 better than the analyst estimate of $0.55. Revenue for the quarter came in at $121.6 million versus the consensus estimate of $129.14 million.

Guidance:

Rick Parod, president and chief executive officer, commented, “The irrigation markets continue to be constrained by lower commodity prices, and foreign exchange rates continue to negatively affect international sales.”

Parod continued, “While it appears we are at or near the bottom of the cycle, we expect the market environment will remain challenging at least through 2016. We do not expect to have visibility into the primary selling season until February or March. Longer term, drivers for the Company’s markets of population growth, expanded food production, efficient water use, and infrastructure upgrades and expansion, support our expectation for growth.”

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