Continuing our walk on the wet side, Lindsay put out numbers this morning. There might be something to this water/infrastructure theme.
Lindsay Corp (LNN.N: Quote, Profile, Research) posted a near four-fold rise in second-quarter profit, helped by a 60 percent increase in sales from irrigation equipment, sending its shares up to a life-high.
The maker of irrigation equipment, infrastructure and road safety products posted net income of $9.7 million or 79 cents a share, compared with $2.5 million or 21 cents a share, a year ago.
Revenue rose 70 percent to $108.4 million. Total irrigation equipment revenue rose to $82.6 million, from $50.9 million, a year ago.
Lindsay said the quarter included results from its latest acquisitions Watertronics Inc and Snoline SPA....MOREHere's Wallstrip's take on Lindsay last year, well worth taking a couple minutes for.
Here's the five day chart from Yahoo Finance: