Operating income for the quarter was $27 million, a decrease of $8.2 million, or 23%, compared to operating income of $35.2 million in the prior year third quarter.
Agriculture ales of $377.8 million increased 34% year-over-year, led by higher average selling prices of irrigation equipment globally and higher volumes, notably in North America and Brazil.
"We delivered strong financial results in our first quarter, exceeding our expectations and achieving another quarter of record sales," said Stephen G. Kaniewski, president and chief executive officer.
"We achieved record sales for the second consecutive quarter through continued price management and strong market demand, while remaining highly focused on operational excellence and execution," said Stephen G. Kaniewski, president and chief executive officer.
Reinke Manufacturing, a manufacturer in irrigation systems and technology, has invested $2.5 million in fiberoptic lasers to increase and further improve production and automation in their Deshler facility.
Revenues for the fourth quarter of fiscal 2021 were $153.6 million, an increase of $25.2 million, or 20%, compared to revenues of $128.4 million in the prior year fourth quarter.
Revenues for the third quarter of fiscal 2019 were $121.1 million, a decrease of $48.5 million, or 29%, compared to revenues of $169.6 million in the prior year third quarter.
The 14-store Case IH dealer with locations in Kentucky, Illinois, Tennessee, Alabama and Mississippi, has completed the acquisition of Black Prairie Tractor, one of Zimmatic's leading U.S. dealers.
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Precision ag pioneer Al Myers is a member of the Farm Equipment Shortline Legends Hall of Fame 2024 class. It’s been almost 35 years since the Ag Leader founder introduced the groundbreaking Yield Monitor 2000.