UPDATE: Lindsay Q3 Net Profit Surges 23%

Lindsay LNN reported a 23% rise in its fiscal third-quarter earnings. Lindsay's quarterly profit surged to $18.8 million, or $1.47 per share, versus a year-ago profit of $15.3 million, or $1.20 per share. Its revenue gained 12% to $172.1 million. However, analysts were expecting earnings of $1.36 per share on revenue of $166 million. Lindsay's gross margin rose to 28.5% from 27% Lindsay's shares closed at $56.27 yesterday.