LINDSAY CORPORATION FINANCIAL AND OPERATING HIGHLIGHTS (In thousands, except per share amounts)  2014 2013  % Change Income Statement Data (for the fiscal years ended August 31) Operating revenues $ 617,933  $ 690,848 -11% Gross profit  $ 170,995  $ 194,834 -12% Operating expenses  $  92,637  $  87,773 6% Operating income   $  78,358  $ 107,061 -27% Net earnings   $  51,512   $  70,570 -27% Diluted net earnings per share   $  4.00   $  5.47 -27% Average diluted shares outstanding  12,882  12,901  0% Balance Sheet Data (at August 31) Cash and cash equivalents   $ 171,842  $ 151,927  13% Current assets   $ 374,058  $ 368,791 1% Fixed assets, net  $  72,457  $  65,064 11% Total assets  $ 526,551  $ 512,296 3% Current liabilities  $ 116,367  $ 102,092 14% Current and long-term debt  $  –  $  – 0% Shareholder’s equity   $ 382,647  $ 380,638 1% Shares outstanding at year end  12,440  12,873 -3% Cash Flow Data (for the fiscal years ended August 31) Cash flows provided by operating activities   $  91,798  $  57,505  60% Cash flows used in investing activities $  18,476  $  41,081 -55% Cash flows used in financing activities $  53,595  $  7,995 570% Capital expenditures   $  17,715  $  11,136 59% Share repurchases   $  41,059  $  – NA Cash dividends declared per share  $  0.920  $  0.475 94% Performance Ratios Annual revenue growth  -10.6% 25.3%  NA Operating margin  12.7% 15.5%  NA Return on net assets  12.6% 19.0%  NA 2014 ANNUAL REPORT Revenue  ($ in millions) Operating Margin  (percentage) Return on Net Assets (RONA) (percentage) We experienced declines in both the U.S. and international irrigation equipment  revenues, driven largely by declining crop prices.  Our operating margins in fiscal 2014  declined slightly, primarily impacted by the effects of a cyclical downturn in  U.S. irrigation. Fiscal 2014 return on net assets decreased  primarily due to lower operating revenues  and associated profits. 18 12 6 0 05 06 07 08  09 10 11 12 13 14 18 12 6 0 05 06 07 08 09 10 11 12 13 14 750 500 250 0 05 06 07 08 09 10 11 12 13 14