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Lindsay Corporation Message Board

  • donuts_stockoptions donuts_stockoptions Apr 2, 2009 8:21 AM Flag

    NEWS OUT - WHAT A F$#@NG DISASTER

    BACKLOG CUT IN HALF AGAIN!



    - Lindsay’s backlog of unshipped orders at February 28, 2009 was $45.5 million compared with $98.5 million at February 29, 2008. Irrigation backlog of $17.5 million decreased $66.0 million while Infrastructure backlog of $28.0 million increased $13.0 million compared to February 29, 2008.



    - Gross margin was 20.4 percent compared to 27.7 percent a year ago



    “General economic conditions and agricultural commodity prices remained unfavorable during the quarter adversely affecting the willingness of farmers to make investments in capital goods. During the past several months, we have also seen federal, state and local governments limit spending on infrastructure projects, pending availability of funds. Agricultural market conditions are expected to continue to adversely affect irrigation demand for the remainder of our fiscal year, while we do anticipate improved demand for road infrastructure products due to increased funding from the stimulus package.

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    • what did you expect? when the markets, corn prices, momentum drove this stock up over $100, Parod look like a hero. Now he has plenty of excuses to point to. Basically, he is a mediocre CEO who takes what the market gives him but otherwise makes no difference. It is a good thing for him he was able to pocket a few $$ million when he sold near the peak. Maybe he is no dummy, but the investors who bought his shares sure are.

    • LNN Lindsay Corp misses by $0.20, misses on revs (27.44 )

      Reports Q2 (Feb) earnings of $0.01 per share, $0.20 worse than the First Call consensus of $0.21; revenues fell 39.9% year/year to $65.1 mln vs the $73.5 mln consensus. Gross margin was 20.4% compared to 27.7% a year ago on lower irrigation margins from reduced factory volume and lower infrastructure margins primarily resulting from unfavorable product mix due to a delay in the previously announced Mexico City moveable barrier project. Lindsay's backlog of unshipped orders at February 28, 2009 was $45.5 mln compared with $98.5 mln at February 29, 2008. Co says, "General economic conditions and agricultural commodity prices remained unfavorable during the quarter adversely affecting the willingness of farmers to make investments in capital goods. During the past several months, we have also seen federal, state and local governments limit spending on infrastructure projects, pending availability of funds. Agricultural market conditions are expected to continue to adversely affect irrigation demand for the remainder of our fiscal year, while we do anticipate improved demand for road infrastructure products due to increased funding from the stimulus package."

 
LNN
83.55+0.360(+0.43%)1:12 PMEDT

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