Layne Christensen posts second-quarter loss on lower revenue

Layne Christensen Co. reported a second-quarter loss and lower revenue compared with last year, which it attributed to the weak economy, tight credit markets and a one-time charge in its energy division. In a release late Wednesday, the Mission Woods-based company (Nasdaq: LAYN) reported a loss of $8.6 million, or 45 cents a share, for the quarter that ended July 31. This compares with earnings of $15.1 million, or 78 cents a share, last year. Revenue for the quarter was $217.2 million, down 19 percent from $269.6 million last year. The company reported revenue decreases of 11.2 percent in its water infrastructure division — its biggest division — 49.2 percent in its mineral exploration division and 0.8 percent in its energy division. The company took a noncash impairment charge of $13 million, or 68 cents a share, for its energy division because of continued weakness in natural gas prices and lower remaining volume under forward sales contracts. “Activity levels in the second quarter were up across all our business segments from the extremely depressed first-quarter levels,” CEO Andrew Schmitt said in the release. “In our water infrastructure division, the more infrastructure-intensive pipeline construction product line was actually up over the prior year’s second quarter. I believe this is quite a feat in today’s economy. The weak earnings comparison to the prior year in our water infrastructure division is coming from Layne’s traditional water business, where demand for additional water supply, outside of a few drought-stricken markets, is still weak.” Schmitt said that the company expects to see little change in all its divisions in the current market environment but that “we do appear to be off the bottom for now.” Layne Christensen r...
Click here to read the whole Article (external link)

Q2 2010 Layne Christensen Earnings Release - Time Not Supplied

Earnings Announcements for Thursday, September 3CompanySymbolTimeConferenceCallANIMAL HEALTH INTERNATIONAL INCAHIITime Not SuppliedArcSight, Inc.ARSTAfter Market CloseATA Inc.ATAIAfter Market CloseListenAvago Technologies, Inc.AVGOTime Not SuppliedListenBolt TechnologyBOLTTime Not SuppliedCALAVO GROWERS INCCVGWBefore Market OpenCANADIAN SUPERIOR ENERGY INCSNG.TOBefore Market OpenCanadian Western BankCWB.TOBefore Market OpenCascade CorporationCASCTime Not SuppliedCiena CorporationCIENBefore Market OpenCOM DEV InternationalCDV.TOTime Not SuppliedCOMBA TELECOM SYSTEMS HLDG LTD2342.HKTime Not SuppliedCONCURRENT TECHNOLOGIES PLCCNC.LBefore Market OpenDel Monte FoodsDLMBefore Market OpenListenENGHOUSE SYSTEMSESL.TOAfter Market CloseEsterline TechnologiesESLAfter Market CloseListenG-III Apparel Group...
Click here to read the whole Article (external link)

LAYNE CHRISTENSEN CO Financials

PERIOD ENDING31-Jul-0930-Apr-0931-Jan-0931-Oct-08Total Revenue217,227  204,192  229,398  264,483  Cost of Revenue165,549  159,904  176,016  199,232  Gross Profit51,678  44,288  53,382  65,251  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative30,601  31,700  31,430  35,684  Non Recurring21,635  (3,161)28,704   -  Others14,278  14,333  13,871  13,573  Total Operating Expenses -   -   -   -  Operating Income or Loss(14,836)1,416  (20,623)15,994  Income from Continuing OperationsTotal Other Income/Expenses Net277  (625)(9,012)11,579  Earnings Before Interest And Taxes(12,208)2,726  (15,546)21,264  Interest Expense812  810  816  838  Income Before Tax(13,020)1,916  (16,362)20,426  Income Tax Expense(4,380)920  (5,011)8,561  Minority Interest -   -   -  362  Net Income From Continuing Ops(8,640)996  (11,351)12,227  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes -   -   -   -  Other It...
Click here to read the whole Article (external link)

LAYNE CHRISTENSEN CO Files SEC form 8-K, Results of Operations and Financial Condition

Show all filings for LAYNE CHRISTENSEN CO | Request a Trial to NEW EDGAR Online Pro Form 8-K for LAYNE CHRISTENSEN CO 3-Sep-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purpos...
Click here to read the whole Article (external link)

Layne Christensen posts 2Q loss but shares rise

Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....
Click here to read the whole Article (external link)

Layne Christensen Company Announces Acquisition of W.L. Hailey & Company, Inc.

MISSION WOODS, Kan., Nov. 3, 2009 (GLOBE NEWSWIRE) -- Layne Christensen Company (Nasdaq:LAYN - News) today announced the acquisition of W.L. Hailey & Company, Inc., a water infrastructure company. Morgan Joseph & Co. Inc. provided investment banking services to W.L. Hailey and served as exclusive sell-side financial advisor to the company in connection with this transaction. The acquisition purchase price was $15 million and was funded from Layne Christensen's current cash balances and net of cash, Layne Christensen remains debt free. W.L. Hailey, founded in 1925 in Nashville, Tennessee, is a leading provider of water and wastewater infrastructure solutions in the Southeast and is ranked among the largest environmental construction firms in the U.S. W.L. Hailey adds to the list of acquisitions made recently to expand Layne Christensen's geographic coverage in its water infrastructure business. W.L. Hailey will be added to Layne's heavy/civil construction arm with approximately $80 million and $5 million in trailing twelve month revenues and earnings before interest and taxes, respectively. The acquisition is expected to be accretive to earnings after all acquisition adjustments. W.L. Hailey builds water and wastewater treatment facilities and systems, builds and installs water and sewer mains and has marine construction capabilities. Jeff Reynolds, President of Layne's Water Infrastructure Group, stated, "This acquisition further solidifies our efforts in the Southeast water markets. The 'bolt-on' acqu...
Click here to read the whole Article (external link)

LAYNE CHRISTENSEN CO Files SEC form 8-K, Creation of a Direct Financial Obligation or an Obligation under an Off-Bala

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT. On October 14, 2009, Layne Christensen Company ("Layne," or the "Company") entered into a Letter Amendment No. 7 to Master Shelf Agreement ("Amendment No. 7") with Prudential Investment Management, Inc., and the other purchasers listed therein (collectively, the "Purchasers"), to be effective as of October 1, 2009, which (i) reinstates and extends the issuance period for the senior promissory notes until September 15, 2012, and (ii) establishes that the amount of senior promissory notes available for issuance during the extended issuance period is $50,000,000. As of October 14, 2009, after giving effect to Amendment No. 7, the Company had $26,667,000 of senior promissory notes outstanding and $50,000,000 of senior promissory notes available for issuance under the shelf facility created by the Master Shelf Agreement (the "Shelf Facility"). No borrowings were made under the Shelf Facility in connection with Amendment No. 7. The ability of the Company to borrow under the Shelf Facility is subject to the Company's ongoing compliance with certain covenants, including restrictions on the incurrence of additional indebtedness and liens, investments, acquisitions, transfer or sale of assets, payment of dividends and certain financial maintenance covenants, including among others, fixed charge coverage, maximum debt to EBITDA, and minimum tangible net worth. In addition, under the terms of the Shelf Facility, if any event of default occurs, including payment default or insolvency of the Company, the Purchasers would be entitled to accelerate any outstanding amounts owed by the Company. As of October 14, 2009, the Company was in compliance with the covenants set forth in the Shelf Facility, as amended by Amendment No. 7. The foregoing description of Amendment No. 7 and the Shelf Facility is qualified in its ent...
Click here to read the whole Article (external link)

Layne Christensen buys W.L. Hailey

ONLINE: home | business news | small business | sales & marketing | real estate | events | community | careers | city guide | advertise | about us | rss PRINT: subscribe | renew | advertise | book of lists | business intelligence | classifieds | ...
Click here to read the whole Article (external link)

Layne Christensen buys W.L. Hailey for $15 million

Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....
Click here to read the whole Article (external link)