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irrigation revenue compared to 38 percent the prior year. Solid performance in key markets such as South America, Europe, Australia, New Zealand, and Sudan tempered market uncertainty in politically sensitive areas such as Russia, Ukraine and Iraq. Our international footprint is solid although we experience regional volatility due to timing of large project opportunities, the competitive environment, government in fl uences on subsidy programs and the effect of commodity pricing in certain areas. 

## NEW IRRIGATION PRODUCTS 

In fi scal 2014, Lindsay continued to develop and introduce products that provide exceptional value and unique bene fi ts to growers while enhancing our competitive position as a market leader. 

We further expanded the capability of our industry-leading FieldNET ® wireless irrigation management system, adding a next-generation 3G remote telemetry unit (RTU) as well as drip-controller technology that enables FieldNET connectivity to operate drip- and micro-irrigation systems along with the larger center pivot and lateral move systems. The award-winning FieldNET technology provides growers the industry’s most comprehensive options to remotely control their entire irrigation systems throughout the crop life cycle. 

We also introduced the revolutionary NFTrax airless wheel assembly that eliminates the potential for fl at tires on center pivots. The patent- pending product reduces downtime and labor required to perform repairs in the fi eld. This is another example of our development process that addresses key customer concerns 

with innovative solutions, and it has received very positive response in the marketplace. 

## THE COMPETITIVE ADVANTAGE OF INTEGRATED SOLUTIONS 

Lindsay offers an unmatched breadth of products and value-added services. Beyond just selling center pivot irrigation equipment, we provide comprehensive solutions including pump stations and fi ltration, fi eld layout and total system design, weather and fi eld monitoring services, and the design and installation of in- fi eld broadband communication 

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Since its market introduction in early 2014, Growsmart ®  by Lindsay’s MULTI-CONTROL for drip and micro-irrigation has received significant industry recognition: 

• Top Ten New Product - World Ag Expo 2014 

• One of the Year’s Most Innovative Designs in Engineering Products - The American Society of Agricultural and Biological Engineers AE50 

• 2014 Best New Product, Agriculture - Irrigation Association’s Irrigation Show & Education Conference 

infrastructure. The synergistic acquisitions the Company has made in recent years further expand our product and service offerings. 

Integrated solutions differentiate us from competitors in the marketplace. We lead the industry in customer- valued technological innovations, quality products and reliable service. We have observed, for example, that growers who use FieldNET to more effectively manage their crop growing processes become dedicated, loyal customers, depending on Lindsay products to help them increase irrigation ef fi ciency, improve crop productivity, and reduce costs such as fuel and labor. Dealers in our network have expressed encouraging assessments of market share growth during the past few years, as well as recognized the bene fi ts of a strong, differentiated competitive offering of products and services. 

## IRRIGATION MARKET OUTLOOK 

In the near term, we expect that irrigation sales will continue to be impacted by lower crop prices and projected reductions in farm income as well as political instability in various regions of the world. The extent and the duration of the current cyclical downturn are dif fi cult to predict. 

However, our team is con fi dent that the Company’s investment in competitively advantaged products and services will continue to position us well now and as agricultural market conditions improve. 

In addition, our initiatives to manage costs have been effective. Lean manufacturing practices in the Nebraska irrigation facility have proven very valuable. Along with productivity enhancements, we 

