The Joplin Globe, Joplin, MO

Business

June 5, 2012

Layne Christensen 1Q profit falls, revenue climbs

MISSION WOODS, Kan. — Layne Christensen Co.’s fiscal first-quarter net income dropped 72 percent from year-ago results that included a hefty one-time gain related to a building sale.

The drilling and construction services provider reported on Tuesday that it earned $3.7 million, or 19 cents per share, for the three months ended April 30. That’s down from $13.1 million, or 66 cents per share, a year earlier.

The year-ago period included a one-time gain of 15 cents per share tied to the sale of a building in Fontana, Calif.

Analysts polled by FactSet expected higher earnings of 27 cents per share for the latest quarter.

Revenue rose 3 percent to $276.5 million from $267.4 million, topping Wall Street’s forecast of $265.3 million.

The Mission Woods, Kan., company posted higher revenue from its water resources, geoconstruction, water infrastructure and mineral exploration segments. Revenue fell in its heavy civil and energy segments. The energy unit was hurt by low natural gas prices.

 

1
Text Only
Business
Poll

Given that the U.S. Supreme Court has ruled that electronic devices and communications are protected from searches and seizure without a warrant, do you think Missouri needs Amendment 9 added to its constitution?

A. Yes.
B. No.
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
US Ready to Slap New Sanctions on Russia Kerry: Not Worried About Israeli Criticism Boater Rescued From Edge of Kentucky Dam Girl Struck by Plane on Florida Beach Dies Rodents Rampant in Gardens Around Louvre House to Vote on Slimmed-down Bill for Border Looming Demand Could Undercut Flight Safety Raw: 2 Shells Hit Fuel Tank at Gaza Power Plant Raw: Massive Explosions From Airstrikes in Gaza Giant Ketchup Bottle Water Tower Up for Sale Easier Nuclear Construction Promises Fall Short Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming Traditional African Dishes Teach Healthy Eating