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 irrigation company Lindsay (LNN -0.15%) saw its shares fall as much as 10% today after reporting earnings.
So what: Fiscal fourth-quarter revenue rose 10% to $127.8 million, in line with estimates. Net income grew 49% to $8.8 billion, or $0.68 per share, which was seven cents behind estimates. Investors are clearly focused on the earnings miss today.
Now what: It's important to keep in mind that revenue and earnings are growing at a nice clip even if they didn't hit expectations. The company also increased its backlog to $57.1 million from $44.5 million at the end of last quarter. Lindsay doesn't pay a high enough dividend or have a strong enough value at a 17.3 forward P/E ratio for me to jump in today, but if the stock continues to fall in coming weeks it will be worth another look.
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