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Lindsay Corporation posts lower net earnings of USD1.2m for Q1 fiscal 2019

Jan 09, 2019 - Global Banking News

Irrigation technology company Lindsay Corporation (NYSE:LNN) stated on Tuesday its net earnings of USD1.2m and diluted earnings per share of USD0.11 for its first quarter ended 30 November 2018.

This is a decline in earnings when compared with net earnings of USD3.2m and diluted earnings per share of USD0.30 for the corresponding period in the prior year.

The company said the net earnings for the quarter were reduced by after-tax costs related to the Foundation for Growth initiative.

Revenues of USD112.0m were generated for the first quarter of fiscal 2019, down 10% overs revenues of USD124.5m in the prior year's first quarter as a result of the completion of previous business divestiture...