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Lindsay Corporation (LNN) Misses Q3 EPS by 15c

June 25, 2014 7:03 AM

Lindsay Corporation (NYSE: LNN) reported Q3 EPS of $1.28, $0.15 worse than the analyst estimate of $1.43. Revenue for the quarter came in at $169.9 million versus the consensus estimate of $184.29 million.

Backlog of unshipped orders at May 31, 2014 was $73.6 million compared with $80.0 million at May 31, 2013 and $89.3 million at February 28, 2014. Backlog increased in the U.S. irrigation and infrastructure markets and declined in the international irrigation market over the same time last year. The current year infrastructure backlog includes a $12.8 million Road Zipper System order for the Golden Gate Bridge which is expected to be recognized in revenue in fiscal 2015. The prior year irrigation backlog included $23.0 million of equipment and installation remaining on a project in Iraq, of which $2.6 million remained in backlog at the end of the third quarter of fiscal 2014.

For earnings history and earnings-related data on Lindsay Corporation (LNN) click here.

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