UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 2, 2008
LINDSAY CORPORATION
(Exact name of registrant as specified in its charter)
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| Delaware
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1-13419
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47-0554096 |
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(Commission File Number)
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(IRS Employer Identification |
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Number) |
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| 2707 North 108th Street |
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| Suite 102 |
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| Omaha, Nebraska
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68164 |
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| (Address of principal executive offices)
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(Zip Code) |
(402) 428-2131
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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TABLE OF CONTENTS
Lindsay Corporation (the “Company”) has determined that it has erroneously recognized income tax
expense of $463,462 and $610,262 in the fourth quarter of fiscal 2007 and the second quarter of
fiscal 2008, respectively, relating to the exercise of stock options by Richard W. Parod, President
and Chief Executive Officer of the Company. The Company incorrectly increased income tax expense
by these amounts to reflect the effect of non-deductible officer compensation under Section 162(m)
of the Internal Revenue Code related to these stock options. However, because these options were
accounted for under APB No. 25, there should not have been an impact on income tax expense in the
financial statements.
The Company has concluded that the impact of these errors was not material to its previously issued
financial statements. As a result, the Company will correct these errors in the third quarter of
fiscal 2008. The correction is expected to result in a reduction in income tax expense of
approximately $1.1 million, which is expected to add approximately $0.09 to earnings per diluted
share for the third quarter of fiscal 2008.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| Dated: May 4, 2008 |
LINDSAY CORPORATION
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By: |
/s/ Timothy J. Paymal
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Timothy J. Paymal, Vice President and |
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Chief Accounting Officer |
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