Lindsay Corporation Shares Plunged: What You Need to Know (LNN)

Lindsay Corporation Shares Plunged: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of agricultural equipment maker Lindsay Corporation (NYSE: LNN ) are off by as much as 10% today after the company reported results for the fourth quarter and full fiscal 2011 this morning.

So what: Fourth-quarter revenue came in at $116.1 million, jumping by a third from last year, and resulted in net income of $5.9 million, or $0.46 per share. The report was a mixed bag as revenue beat analysts' estimates while earnings per share fell short. Analysts were looking for $108.5 million in sales and $0.61 in earnings per share.

Now what: The bottom line took a hit from a 27% rise in operating costs. For the full year, revenue tallied up to $478.9 million, up 34% from the prior year. Lindsay CEO Rick Parod attributed the increase in costs to needed investments in operating systems. Acknowledging macro uncertainties, the company is encouraged by positive farmer sentiment and higher commodity prices. According to Parod, "Growth drivers of expanded food production and efficient and environmentally friendly water use remain very positive for our business, long-term."

Interested in more info on Lindsay Corporation? Add it to your watchlist by clicking here.

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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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