Lindsay Corporation (LNN) is a leading designer and manufacturer of self-propelled center pivot and lateral move irrigation systems, which are used principally in the agricultural industry to increase or stabilize crop production while conserving water, energy and labor. Lindsay maintains its corporate offices in Omaha, Nebraska.The company reported first quarter FY09 EPS of $0.51, up 42% from $0.32 a year ago, amid year-over-year [y-o-y] revenue growth of 49%. During 1Q09, Lindsay felt the impact of deteriorating economic conditions and falling agricultural commodity prices on its incoming order rate.Though the difficult macro-economic and credit environment remain concerns in the near term, we believe that the long-term outlook remains positive due to the need for increased food production from worldwide population growth, and the growing need for biofuels. We rate shares of LNN a Hold.Read the full analyst report on LNN...