Lindsay Corporation F4Q08 (Qtr End 8/31/2008) Earnings Call Transcript

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2008-10-08 13:45:27.0

Tags: Barrier, Call Transcript, Earnings, Seeking Alpha, Lindsay Corp.

Question-and-Answer Session

Operator

(Operator Instructions) Your first question comes from Joe Giamichael – Rodman & Renshaw, LLC.

Joe Giamichael – Rodman & Renshaw, LLC

I just wanted to be clear about the language used in the release and what you mentioned earlier just regarding the backlog. On the irrigation side that was up 48 million over last year which I assume was almost exclusively just irrigation backlog so of the 92 million it’s fair to say that sort of 90% or more of that is purely related to irrigation, correct?

Richard W. Parod

I don’t recall the exact backlog number of irrigation [inaudible] and it is on the slide deck as

well –

Mark A. Roth

The actual numbers, Joe, its 71.7 million of irrigation backlog and 20.6 million of infrastructure backlog at the end of the quarter and those numbers are in the slide deck.

Joe Giamichael – Rodman & Renshaw, LLC

Can you talk a little bit about what we’re seeing on the infrastructure side that, at least in the U.S. this seems to be a lot of projects and no funding, and I know you talked about that briefly? I know there’s also been several potential opportunities for you on the international side. Can you just sort of talk about what you’re seeing in the demand environment and the money environment there?

Richard W. Parod

Yes. On the infrastructure side of the business, and we’ll speak primarily for barrier systems, moveable barrier type projects and road construction type projects, they’re still seeing quite a bit of activity. In fact did add in an additional barrier project in this fourth quarter. It had shipments of quick move barriers in the fourth quarter, a fairly sizable project, a little under $10 million. So that was added in in the fourth quarter. And there’s significant additional projects that they’re working on to date that would add into [inaudible] period.

Right now funding does appear to be a potential issue, primarily in the U.S. market and I would say it’s more likely to affect the road construction projects and things like the crash cushion business in the build out of the infrastructure in general. There still seems to be a bit of a differentiation in most areas between, let’s say, the quick move barrier projects which are more traffic mitigation oriented versus the crash cushion type projects that are really tied more to highway building.

 

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