Total revenues for the fourth quarter of fiscal 2021 increased 20% to $153.6 million, compared to $128.4 million in the same quarter last year.
Net earnings for the quarter were $5.8 million or $0.53 per diluted share, compared to net earnings of $14.7 million or $1.35 per diluted share in the prior year.
Net earnings for the quarter were reduced by an after-tax LIFO impact of approximately $4.5 million or $0.41 per diluted share.
Total revenues for the full fiscal year 2021 increased 20% to $567.6 million compared to $474.7 million in the prior year.
Net earnings for fiscal 2021 were $42.6 million or $3.88 per share compared to net earnings of $38.6 million or $3.56 per diluted share in the prior year.
Irrigation segment revenues for the fourth quarter increased 63% to $125.3 million, compared to $77 million in the same quarter last year.
North America irrigation revenues of $53.5 million increased 30% compared to last year's fourth quarter.
In the international irrigation markets, revenues of $71.7 million increased 100% compared to last year's fourth quarter.
The increase in international irrigation revenues resulted primarily from higher unit sales volumes along with higher selling prices and a favorable foreign currency translation impact of $2.8 million.
Total irrigation segment operating income for the fourth quarter was $10.6 million, an increase of 78% compared to the prior year fourth quarter.
And operating margin was 8.4% of sales compared to 7.8% of sales in the prior year fourth quarter.
We continue to face some margin headwind as the realization of pricing actions lags the impact of cost increases.
Fourth quarter operating results were also reduced by approximately $5 million resulting from the impact of the LIFO method of accounting for inventory, under which higher raw material costs are recognized in cost of goods sold rather than in ending inventory values.
For the full fiscal year, total irrigation segment revenues increased 35% to $471.4 million compared to $349.3 million in the prior year.
North America irrigation revenues of $273.9 million increased 22% compared to the prior year and international irrigation revenues of $197.5 million increased 59% compared to the prior year.
Irrigation segment operating income for the full fiscal year was $63.2 million, an increase of 53% compared to the prior year and operating margin was 13.4% of sales, compared to 11.8% of sales in the prior fiscal year.
Infrastructure segment revenues for the fourth quarter decreased 45% to $28.4 million compared to $51.4 million in the same quarter last year.
Infrastructure segment operating income for the fourth quarter was $5.8 million compared to $19.9 million in the same quarter last year.
And Infrastructure operating margin for the quarter was 20.5% of sales, compared to 38.8% of sales in the prior year.
Current year results reflect lower revenues and the less favorable margin mix of revenues compared to the prior year fourth quarter and were also reduced by approximately $1 million resulting from the impact of LIFO.
For the full fiscal year, infrastructure segment revenues decreased 23% to $96.3 million compared to $125.3 million in the prior year.
Infrastructure operating income for the full fiscal year was $20.2 million, compared to $42.7 million in the prior year.
And operating margin for the year was 21% of sales compared to 34.1% of sales in the prior year.
Our total available liquidity at the end of the fiscal year was $196.7 million with $146.7 million in cash, cash equivalents and marketable securities and $50 million available under our revolving credit facility.
Our total debt was $115.7 million almost all of which matures in 2030.
At the end of the fiscal year we were well within our financial covenants of our borrowing facilities, including a gross funded debt-to-EBITDA leverage ratio of 1.4 compared to a covenant limit of 3.0.

Summary:
Total revenues for the fourth quarter of fiscal 2021 increased 20% to $153.6 million, compared to $128.4 million in the same quarter last year.
Net earnings for the quarter were $5.8 million or $0.53 per diluted share, compared to net earnings of $14.7 million or $1.35 per diluted share in the prior year.
We continue to face some margin headwind as the realization of pricing actions lags the impact of cost increases.