LNN
Lindsay Corporation
Price Chart
Latest Quote
$122.98
| Previous Close | $120.77 |
| Open | $117.69 |
| Day High | $122.98 |
| Day Low | $122.02 |
| Volume | 1,426 |
Stock Information
| Quarterly Dividend / Yield | $1.48 / 1.23% |
| Shares Outstanding | 10.40M |
| Quarterly Dividend Yield | 1.23% |
| Quarterly Dividend | $1.48 |
| Total Debt | $138.58M |
| Cash Equivalents | $186.11M |
| Revenue | $636.56M |
| Net Income | $58.88M |
| Sector | Industrials |
| Industry | Farm & Heavy Construction Machinery |
| Market Cap | $1.29B |
| P/E Ratio | 22.48 |
| EPS (TTM) | $5.47 |
| Exchange | NYQ |
đ Comprehensive Analysis
Company Data
| Enterprise Value | $1.21B |
| Sales | $636.56M |
| Income | $58.88M |
| Book/sh | $48.84 |
| Cash/sh | $17.90 |
| Employees | 1K |
Financial Ratios
| Quick Ratio | 1.95 |
| Current Ratio | 3.02 |
| Debt/Eq | 27.29 |
| EPS Growth TTM | -54.70% |
Returns & Margins
| ROA | 5.09% |
| ROE | 11.50% |
| Gross Margin | 29.97% |
| Operating Margin | 8.25% |
| Profit Margin | 9.25% |
Ownership
| Insider Ownership | 1.18% |
| Institutional Ownership | 102.46% |
| Insider & Institutional transactions data not available | |
Valuation Ratios
| Forward P/E | 19.69 |
| PEG | 1.72 |
| P/S | 2.02 |
| P/B | 2.52 |
Analyst Data
| Recommendation | buy |
| Target Price | $124.00 |
Technical Indicators
| SMA20 | $114.85 |
| SMA50 | $111.27 |
| SMA200 | $120.49 |
| RSI | 71.04 |
| ATR | 3.2439 |
| Shares Float | 10.29M |
| Short Float | 7.76% |
| Short Ratio | 2.84 |
| Volatility | 0.71 |
| Rel Volume | 0.01 |
Performance History
| Week | +5.93% |
| Month | +11.07% |
| Quarter | +2.38% |
| 6 Months | +3.15% |
| YTD | +2.15% |
| Year | -9.93% |
| 3 Years | -0.64% |
| 5 Years | -17.92% |
| 10 Years | +104.85% |
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Recent Price History
| Date | Close | Volume |
|---|---|---|
| 2026-06-25 | $122.99 | 1,426 |
| 2026-06-24 | $120.53 | 115,300 |
| 2026-06-23 | $117.42 | 104,400 |
| 2026-06-22 | $116.73 | 163,000 |
| 2026-06-18 | $119.10 | 369,200 |
| 2026-06-17 | $116.10 | 226,500 |
| 2026-06-16 | $116.09 | 146,100 |
| 2026-06-15 | $114.80 | 198,700 |
| 2026-06-12 | $115.35 | 95,300 |
| 2026-06-11 | $114.68 | 131,900 |
| 2026-06-10 | $112.75 | 165,900 |
| 2026-06-09 | $114.55 | 115,100 |
| 2026-06-08 | $113.09 | 192,100 |
| 2026-06-05 | $112.67 | 204,700 |
| 2026-06-04 | $114.08 | 180,400 |
| 2026-06-03 | $113.28 | 164,700 |
| 2026-06-02 | $113.51 | 246,000 |
| 2026-06-01 | $110.05 | 238,400 |
| 2026-05-29 | $109.29 | 214,700 |
| 2026-05-28 | $110.02 | 355,400 |
| 2026-05-27 | $111.12 | 169,900 |
| 2026-05-26 | $110.73 | 224,400 |
About Lindsay Corporation
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates through two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems. It also offers repair and replacement parts for its irrigation systems and controls, and diameter steel tubing; global positioning system positioning and guidance, variable rate irrigation, wireless irrigation management, machine-to-machine communication technology solutions and mobile device applications; and irrigation scheduling technology solutions; and industrial Internet of Things technology solutions, data acquisition and management systems, and custom electronic equipment for applications under the Elecsys brand. The Infrastructure segment provides Road Zipper System comprised of T-shaped concrete and steel barriers, barrier transfer machine, and variable length barriers, which are used for highway reconstruction, paving and resurfacing, road widening, median and shoulder construction, and repairs to tunnels and bridges. This segment also offers redirective and non-redirective crash cushions, moveable barriers to enhance highway safety at locations such as toll booths, end terminals, road marking, freeway off-ramps, medians and roadside barrier ends, bridge supports, utility poles, and other fixed roadway hazards; specialty barriers; preformed tape and road safety accessory products, as well as rail products, such as signals and lights, structures, foundations, junction boxes, and signs. Lindsay Corporation was founded in 1955 and is headquartered in Omaha, Nebraska.
đ° Latest News
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StockStory âĸ 2026-05-18T04:20:55ZIncome Statement (Annual)
| Metric | 2025-08-31 | 2024-08-31 | 2023-08-31 | 2022-08-31 |
|---|---|---|---|---|
| Revenue | ||||
| Reconciled Cost Of Revenue | $465,588,000 | $416,019,000 | $461,069,000 | $571,565,000 |
| Cost Of Revenue | $465,588,000 | $416,019,000 | $461,069,000 | $571,565,000 |
| Total Revenue | $676,368,000 | $607,074,000 | $674,084,000 | $770,743,000 |
| Operating Revenue | $676,368,000 | $607,074,000 | $674,084,000 | $770,743,000 |
| Expenses | ||||
| Interest Expense | $1,833,000 | $3,234,000 | $3,788,000 | $4,269,000 |
| Total Expenses | $588,244,000 | $530,466,000 | $571,900,000 | $676,100,000 |
| Other Income Expense | $574,000 | $487,000 | $-804,000 | $-3,128,000 |
| Other Non Operating Income Expenses | $574,000 | $487,000 | $-804,000 | $-3,128,000 |
| Net Non Operating Interest Income Expense | $5,885,000 | $1,955,000 | $-1,005,000 | $-3,647,000 |
| Interest Expense Non Operating | $1,833,000 | $3,234,000 | $3,788,000 | $4,269,000 |
| Operating Expense | $122,656,000 | $114,447,000 | $110,831,000 | $104,535,000 |
| Selling And Marketing Expense | $41,740,000 | $39,905,000 | $36,201,000 | $33,920,000 |
| General And Administrative Expense | $62,986,000 | $57,419,000 | $56,412,000 | $55,470,000 |
| Other Operating Expenses | - | - | - | - |
| Income & Earnings | ||||
| Net Income From Continuing Operation Net Minority Interest | $74,052,000 | $66,257,000 | $72,379,000 | $65,469,000 |
| Net Interest Income | $5,885,000 | $1,955,000 | $-1,005,000 | $-3,647,000 |
| Interest Income | $7,718,000 | $5,189,000 | $2,783,000 | $622,000 |
| Normalized Income | $74,052,000 | $66,257,000 | $72,379,000 | $65,469,000 |
| Net Income From Continuing And Discontinued Operation | $74,052,000 | $66,257,000 | $72,379,000 | $65,469,000 |
| Total Operating Income As Reported | $88,124,000 | $76,608,000 | $102,184,000 | $94,643,000 |
| Net Income Common Stockholders | $74,052,000 | $66,257,000 | $72,379,000 | $65,469,000 |
| Net Income | $74,052,000 | $66,257,000 | $72,379,000 | $65,469,000 |
| Net Income Including Noncontrolling Interests | $74,052,000 | $66,257,000 | $72,379,000 | $65,469,000 |
| Net Income Continuous Operations | $74,052,000 | $66,257,000 | $72,379,000 | $65,469,000 |
| Pretax Income | $94,583,000 | $79,050,000 | $100,375,000 | $87,868,000 |
| Interest Income Non Operating | $7,718,000 | $5,189,000 | $2,783,000 | $622,000 |
| Operating Income | $88,124,000 | $76,608,000 | $102,184,000 | $94,643,000 |
| Gross Profit | $210,780,000 | $191,055,000 | $213,015,000 | $199,178,000 |
| Per Share | ||||
| Diluted EPS | $6.78 | $6.01 | $6.54 | $5.94 |
| Basic EPS | $6.82 | $6.04 | $6.58 | $5.97 |
| Other | ||||
| Tax Effect Of Unusual Items | $0 | $0 | $0 | $0 |
| Tax Rate For Calcs | $0 | $0 | $0 | $0 |
| Normalized EBITDA (Bullshit earnings) | $117,312,000 | $103,484,000 | $123,445,000 | $112,315,000 |
| Reconciled Depreciation | $20,896,000 | $21,200,000 | $19,282,000 | $20,178,000 |
| EBITDA (Bullshit earnings) | $117,312,000 | $103,484,000 | $123,445,000 | $112,315,000 |
| EBIT | $96,416,000 | $82,284,000 | $104,163,000 | $92,137,000 |
| Diluted Average Shares | $10,918,000 | $11,017,000 | $11,062,000 | $11,031,000 |
| Basic Average Shares | $10,859,000 | $10,976,000 | $11,003,000 | $10,965,000 |
| Diluted NI Availto Com Stockholders | $74,052,000 | $66,257,000 | $72,379,000 | $65,469,000 |
| Tax Provision | $20,531,000 | $12,793,000 | $27,996,000 | $22,399,000 |
| Research And Development | $17,930,000 | $17,123,000 | $18,218,000 | $15,145,000 |
| Selling General And Administration | $104,726,000 | $97,324,000 | $92,613,000 | $89,390,000 |
| Other Gand A | $62,986,000 | $57,419,000 | $56,412,000 | $55,470,000 |
Balance Sheet (Annual)
| Metric | 2025-08-31 | 2024-08-31 | 2023-08-31 | 2022-08-31 |
|---|---|---|---|---|
| Assets | ||||
| Net Tangible Assets | $425,060,000 | $371,333,000 | $344,811,000 | $308,020,000 |
| Total Assets | $840,836,000 | $760,232,000 | $745,660,000 | $710,653,000 |
| Total Non Current Assets | $308,072,000 | $267,020,000 | $258,176,000 | $233,552,000 |
| Other Non Current Assets | $11,591,000 | $14,521,000 | $19,734,000 | $25,248,000 |
| Non Current Deferred Assets | $19,525,000 | $14,431,000 | $10,885,000 | $9,313,000 |
| Non Current Deferred Taxes Assets | $19,525,000 | $14,431,000 | $10,885,000 | $9,313,000 |
| Goodwill And Other Intangible Assets | $107,790,000 | $109,560,000 | $110,840,000 | $85,338,000 |
| Other Intangible Assets | $23,331,000 | $25,366,000 | $27,719,000 | $18,208,000 |
| Current Assets | $532,764,000 | $493,212,000 | $487,484,000 | $477,101,000 |
| Other Current Assets | $32,303,000 | $31,279,000 | $20,467,000 | $28,617,000 |
| Inventory | $136,859,000 | $154,453,000 | $155,932,000 | $193,776,000 |
| Receivables | $113,027,000 | $116,601,000 | $144,774,000 | $138,200,000 |
| Accounts Receivable | $113,027,000 | $116,601,000 | $144,774,000 | $138,200,000 |
| Allowance For Doubtful Accounts Receivable | $-6,089,000 | $-5,151,000 | $-5,048,000 | $-4,118,000 |
| Gross Accounts Receivable | $119,116,000 | $121,752,000 | $149,822,000 | $142,318,000 |
| Cash Cash Equivalents And Short Term Investments | $250,575,000 | $190,879,000 | $166,311,000 | $116,508,000 |
| Cash And Cash Equivalents | $250,575,000 | $190,879,000 | $160,755,000 | $105,048,000 |
| Debt | ||||
| Total Debt | $136,510,000 | $134,386,000 | $136,107,000 | $138,532,000 |
| Long Term Debt And Capital Lease Obligation | $132,164,000 | $130,535,000 | $132,853,000 | $135,151,000 |
| Long Term Debt | $114,810,000 | $114,994,000 | $115,164,000 | $115,341,000 |
| Current Debt And Capital Lease Obligation | $4,346,000 | $3,851,000 | $3,254,000 | $3,381,000 |
| Current Debt | $233,000 | $228,000 | $226,000 | $222,000 |
| Other Current Borrowings | $233,000 | $228,000 | $226,000 | $222,000 |
| Net Debt | - | - | - | $10,515,000 |
| Liabilities | ||||
| Total Liabilities Net Minority Interest | $307,986,000 | $279,339,000 | $290,009,000 | $317,295,000 |
| Total Non Current Liabilities Net Minority Interest | $164,394,000 | $153,523,000 | $153,901,000 | $156,353,000 |
| Other Non Current Liabilities | $27,788,000 | $18,143,000 | $15,977,000 | $15,256,000 |
| Non Current Deferred Liabilities | $1,024,000 | $678,000 | $689,000 | $1,054,000 |
| Non Current Deferred Taxes Liabilities | $1,024,000 | $678,000 | $689,000 | $1,054,000 |
| Current Liabilities | $143,592,000 | $125,816,000 | $136,108,000 | $160,942,000 |
| Other Current Liabilities | $20,579,000 | $17,400,000 | $15,817,000 | $16,547,000 |
| Current Deferred Liabilities | $17,939,000 | $23,236,000 | $21,630,000 | $30,558,000 |
| Payables And Accrued Expenses | $57,262,000 | $45,014,000 | $54,628,000 | $69,049,000 |
| Payables | $56,287,000 | $43,961,000 | $53,465,000 | $67,856,000 |
| Total Tax Payable | $7,617,000 | $6,544,000 | $9,187,000 | $7,820,000 |
| Accounts Payable | $48,670,000 | $37,417,000 | $44,278,000 | $60,036,000 |
| Minimum Pension Liabilities | - | - | - | $-2,277,000 |
| Equity | ||||
| Common Stock Equity | $532,850,000 | $480,893,000 | $455,651,000 | $393,358,000 |
| Total Equity Gross Minority Interest | $532,850,000 | $480,893,000 | $455,651,000 | $393,358,000 |
| Stockholders Equity | $532,850,000 | $480,893,000 | $455,651,000 | $393,358,000 |
| Gains Losses Not Affecting Retained Earnings | $-33,532,000 | $-30,001,000 | $-21,010,000 | $-21,473,000 |
| Other Equity Adjustments | $-33,532,000 | $-30,001,000 | $-21,010,000 | $-21,473,000 |
| Retained Earnings | $745,397,000 | $687,093,000 | $636,297,000 | $579,000,000 |
| Long Term Equity Investment | $8,763,000 | - | - | - |
| Other | ||||
| Treasury Shares Number | $8,363,000 | $8,277,000 | $8,083,000 | $8,083,000 |
| Ordinary Shares Number | $10,804,000 | $10,847,000 | $11,011,000 | $10,980,000 |
| Share Issued | $19,167,000 | $19,124,000 | $19,094,000 | $19,063,000 |
| Tangible Book Value | $425,060,000 | $371,333,000 | $344,811,000 | $308,020,000 |
| Invested Capital | $647,893,000 | $596,115,000 | $571,041,000 | $508,921,000 |
| Working Capital | $389,172,000 | $367,396,000 | $351,376,000 | $316,159,000 |
| Capital Lease Obligations | $21,467,000 | $19,164,000 | $20,717,000 | $22,969,000 |
| Total Capitalization | $647,660,000 | $595,887,000 | $570,815,000 | $508,699,000 |
| Treasury Stock | $311,224,000 | $299,692,000 | $277,238,000 | $277,238,000 |
| Additional Paid In Capital | $113,042,000 | $104,369,000 | $98,508,000 | $94,006,000 |
| Capital Stock | $19,167,000 | $19,124,000 | $19,094,000 | $19,063,000 |
| Common Stock | $19,167,000 | $19,124,000 | $19,094,000 | $19,063,000 |
| Preferred Stock | $0 | $0 | $0 | $0 |
| Employee Benefits | $3,418,000 | $4,167,000 | $4,382,000 | $4,892,000 |
| Non Current Pension And Other Postretirement Benefit Plans | $3,418,000 | $4,167,000 | $4,382,000 | $4,892,000 |
| Long Term Capital Lease Obligation | $17,354,000 | $15,541,000 | $17,689,000 | $19,810,000 |
| Current Deferred Revenue | $17,939,000 | $23,236,000 | $21,630,000 | $30,558,000 |
| Current Capital Lease Obligation | $4,113,000 | $3,623,000 | $3,028,000 | $3,159,000 |
| Pensionand Other Post Retirement Benefit Plans Current | $28,799,000 | $21,673,000 | $24,957,000 | $23,148,000 |
| Current Provisions | $14,667,000 | $14,642,000 | $15,822,000 | $18,259,000 |
| Current Accrued Expenses | $975,000 | $1,053,000 | $1,163,000 | $1,193,000 |
| Investments And Advances | $8,763,000 | - | - | - |
| Goodwill | $84,459,000 | $84,194,000 | $83,121,000 | $67,130,000 |
| Net PPE | $160,403,000 | $128,508,000 | $116,717,000 | $113,653,000 |
| Accumulated Depreciation | $-172,753,000 | $-167,800,000 | $-158,060,000 | $-146,509,000 |
| Gross PPE | $333,156,000 | $296,308,000 | $274,777,000 | $260,162,000 |
| Construction In Progress | $46,535,000 | $24,854,000 | $8,238,000 | $10,207,000 |
| Other Properties | $50,318,000 | $47,979,000 | $51,434,000 | $49,085,000 |
| Machinery Furniture Equipment | $167,779,000 | $158,039,000 | $151,355,000 | $143,859,000 |
| Buildings And Improvements | $61,139,000 | $58,145,000 | $57,606,000 | $51,014,000 |
| Land And Improvements | $7,385,000 | $7,291,000 | $6,144,000 | $5,997,000 |
| Properties | $0 | $0 | $0 | $0 |
| Inventories Adjustments Allowances | $-19,468,000 | $-21,341,000 | $-22,589,000 | $-22,318,000 |
| Finished Goods | $78,631,000 | $80,877,000 | $86,793,000 | $110,022,000 |
| Work In Process | $7,186,000 | $10,192,000 | $7,820,000 | $12,603,000 |
| Raw Materials | $70,510,000 | $84,725,000 | $83,908,000 | $93,469,000 |
| Other Short Term Investments | - | $0 | $5,556,000 | $11,460,000 |
| Foreign Currency Translation Adjustments | - | - | - | $-18,924,000 |
Cash Flow Statement (Annual)
| Metric | 2025-08-31 | 2024-08-31 | 2023-08-31 | 2022-08-31 |
|---|---|---|---|---|
| Free Cash Flow | ||||
| Free Cash Flow | $90,414,000 | $66,782,000 | $100,932,000 | $-12,547,000 |
| Operating Activities | ||||
| Operating Cash Flow | $132,910,000 | $95,761,000 | $119,707,000 | $3,048,000 |
| Cash Flow From Continuing Operating Activities | $132,910,000 | $95,761,000 | $119,707,000 | $3,048,000 |
| Operating Gains Losses | $-718,000 | $-971,000 | $1,126,000 | $2,274,000 |
| Investing Activities | ||||
| Capital Expenditure | $-42,496,000 | $-28,979,000 | $-18,775,000 | $-15,595,000 |
| Investing Cash Flow | $-48,574,000 | $-25,941,000 | $-47,417,000 | $-8,950,000 |
| Cash Flow From Continuing Investing Activities | $-48,574,000 | $-25,941,000 | $-47,417,000 | $-8,950,000 |
| Net Other Investing Changes | $-1,326,000 | $-2,764,000 | $-3,850,000 | $-855,000 |
| Financing Activities | ||||
| Repurchase Of Capital Stock | $-11,532,000 | $-22,454,000 | $0 | $0 |
| Financing Cash Flow | $-26,851,000 | $-38,641,000 | $-17,299,000 | $-12,692,000 |
| Cash Flow From Continuing Financing Activities | $-26,851,000 | $-38,641,000 | $-17,299,000 | $-12,692,000 |
| Net Other Financing Charges | $-1,078,000 | $-1,205,000 | $-2,249,000 | $-987,000 |
| Cash Dividends Paid | $-15,748,000 | $-15,461,000 | $-15,082,000 | $-14,599,000 |
| Common Stock Dividend Paid | $-15,748,000 | $-15,461,000 | $-15,082,000 | $-14,599,000 |
| Net Common Stock Issuance | $-11,532,000 | $-22,454,000 | $0 | $0 |
| Other | ||||
| Interest Paid Supplemental Data | $1,825,000 | $3,315,000 | $3,907,000 | $3,811,000 |
| Income Tax Paid Supplemental Data | $20,759,000 | $22,285,000 | $20,305,000 | $15,738,000 |
| End Cash Position | $250,575,000 | $190,879,000 | $160,755,000 | $105,048,000 |
| Beginning Cash Position | $190,879,000 | $160,755,000 | $105,048,000 | $127,107,000 |
| Effect Of Exchange Rate Changes | $2,211,000 | $-1,055,000 | $716,000 | $-3,465,000 |
| Changes In Cash | $57,485,000 | $31,179,000 | $54,991,000 | $-18,594,000 |
| Proceeds From Stock Option Exercised | $1,507,000 | $479,000 | $32,000 | $2,894,000 |
| Common Stock Payments | $-11,532,000 | $-22,454,000 | $0 | $0 |
| Net Investment Purchase And Sale | $1,061,000 | $5,802,000 | $6,050,000 | $7,500,000 |
| Sale Of Investment | $15,835,000 | $24,633,000 | $10,982,000 | $25,968,000 |
| Purchase Of Investment | $-14,774,000 | $-18,831,000 | $-4,932,000 | $-18,468,000 |
| Net Business Purchase And Sale | $-5,813,000 | $0 | $-30,842,000 | $0 |
| Purchase Of Business | $-5,813,000 | $0 | $-30,842,000 | $0 |
| Net PPE Purchase And Sale | $-42,496,000 | $-28,979,000 | $-18,775,000 | $-15,595,000 |
| Purchase Of PPE | $-42,496,000 | $-28,979,000 | $-18,775,000 | $-15,595,000 |
| Change In Working Capital | $32,998,000 | $5,634,000 | $17,941,000 | $-89,866,000 |
| Change In Other Working Capital | $4,551,000 | $6,622,000 | $1,629,000 | $-3,787,000 |
| Change In Other Current Liabilities | $-4,422,000 | $-8,200,000 | $-9,135,000 | $186,000 |
| Change In Other Current Assets | $-784,000 | $-9,543,000 | $4,693,000 | $1,220,000 |
| Change In Payables And Accrued Expense | $11,115,000 | $-5,958,000 | $-15,274,000 | $13,832,000 |
| Change In Payable | $11,115,000 | $-5,958,000 | $-15,274,000 | $13,832,000 |
| Change In Account Payable | $11,115,000 | $-5,958,000 | $-15,274,000 | $13,832,000 |
| Change In Inventory | $19,090,000 | $-765,000 | $40,954,000 | $-53,803,000 |
| Change In Receivables | $3,448,000 | $23,478,000 | $-4,926,000 | $-47,514,000 |
| Other Non Cash Items | $-2,669,000 | $450,000 | $1,569,000 | $695,000 |
| Stock Based Compensation | $8,059,000 | $6,392,000 | $6,529,000 | $5,458,000 |
| Provisionand Write Offof Assets | $1,725,000 | $694,000 | $881,000 | $903,000 |
| Deferred Tax | $-1,433,000 | $-3,895,000 | $0 | $-2,063,000 |
| Deferred Income Tax | $-1,433,000 | $-3,895,000 | $0 | $-2,063,000 |
| Depreciation Amortization Depletion | $20,896,000 | $21,200,000 | $19,282,000 | $20,178,000 |
| Depreciation And Amortization | $20,896,000 | $21,200,000 | $19,282,000 | $20,178,000 |
| Net Foreign Currency Exchange Gain Loss | $-718,000 | $-971,000 | $1,126,000 | $2,274,000 |
| Net Income From Continuing Operations | $74,052,000 | $66,257,000 | $72,379,000 | $65,469,000 |
| Repayment Of Debt | - | - | $-222,000 | $-218,000 |
| Net Issuance Payments Of Debt | - | - | $-222,000 | $-218,000 |
| Net Long Term Debt Issuance | - | - | $-222,000 | $-218,000 |
| Long Term Debt Payments | - | - | $-222,000 | $-218,000 |
| Gain Loss On Sale Of Business | - | - | - | - |