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Last $5.28 USD
Change Today -0.28 / -5.04%
Volume 321.9K
LAYN On Other Exchanges
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As of 8:10 PM 04/20/15 All times are local (Market data is delayed by at least 15 minutes).

layne christensen company (LAYN) Key Developments

Layne Christensen Company Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 31, 2015

Layne Christensen Company announced consolidated earnings results for the fourth quarter and full year ended January 31, 2015. For the quarter, the company reported revenues of $193,903,000 against $169,934,000 a year ago. Loss from continuing operations before income taxes was $23,500,000 against $12,732,000 a year ago. Net loss from continuing operations was $23,130,000 or $1.17 basic and diluted per share against $12,088,000 or $0.62 basic and diluted per share a year ago. Net loss attributable to the company was $22,891,000 or $1.17 basic and diluted per share against $14,268,000 or $0.73 basic and diluted per share a year ago. Revenues for the fourth quarter 2015 increased by $24.0 million, reflecting increased revenues at each of Layne's segments with the exception of Heavy Civil and Mineral Services. Improved profits at Inliner and Water Resources were more than offset by pre-tax losses at Heavy Civil, Mineral Services, Geoconstruction, and Energy Services. Also affecting the comparison of the fourth quarter fiscal year 2015 results to fourth quarter fiscal year 2014 was a $6.8 million increase in unallocated corporate expenses, which was impacted by the above-referenced $4.5 million vacation expense reduction in last year's fourth quarter. For the year, the company reported revenues of $797,601,000 against $798,345,000 a year ago. Loss from continuing operations before income taxes was $70,839,000 against $76,567,000 a year ago. Net loss from continuing operations was $66,894,000 or $3.45 basic and diluted per share against $129,744,000 or $6.65 basic and diluted per share a year ago. Net loss attributable to the company was $110,151,000 or $5.61 basic and diluted per share against $128,639,000 or $6.56 basic and diluted per share a year ago. Revenues for fiscal year 2015 rose at each of Layne's segments except Heavy Civil, due primarily to the reasons cited for the fourth quarter of fiscal 2015.

Layne Geoconstruction Announces Earnings Results for the Fourth Quarter and Full Year Ended January 31, 2015

Layne Geoconstruction announced earnings results for the fourth quarter and full year ended January 31, 2015. For the quarter, the company reported revenues of $15,191,000 against $9,788,000 a year ago. Loss from before income taxes was $2,169,000 against profit before income taxes of $1,598,000 a year ago. Geoconstruction revenues were positively impacted by subway projects in San Francisco and Hawaii that had only limited activity last year. Results for the quarter were impacted by non-cash write-downs of inventory in the amount of $1.2 million, while fourth quarter in 2014 included income of $3.5 million for a claim settlement. For the year, the company reported revenues of $77,032,000 against $26,242,000 a year ago. Loss before income taxes was $4,443,000 against $24,810,000 a year ago. Results for the year were also impacted by costs of approximately $7.0 million associated with claims on a foundation project in San Francisco which are in dispute, and a $3.5 million settlement of a long-standing contract dispute in the second quarter of fiscal 2015.

Layne Christensen Company Announces New Contracts Valued at Approximately $110 Million

Layne Christensen Company announced a number of significant new contracts signed within the last 90 days with an aggregate value of approximately $110 million. These contracts were awarded to Layne's Geoconstruction, Inliner, Heavy Civil, Water Resources, and Mineral Services divisions. The majority of these projects are expected to be completed during the current fiscal year. These projects include: Cured-in-Place Pipe (CIPP) renewal for municipal sewer systems; water and wastewater treatment and collection; mineral drilling services for copper and iron ore; design-build contracts for construction of a power plant water supply and treatment system, and the construction of a new low-pressure sewer system; and soil stabilization and excavation services associated with increasing the reliability and capacity of a community sewer system.

Layne Christensen Company, Q4 2015 Earnings Call, Apr 14, 2015

Layne Christensen Company, Q4 2015 Earnings Call, Apr 14, 2015

Layne Christensen Company Revises Earnings Guidance for the Fourth Quarter of 2015; Provides Earnings Guidance for the Fiscal 2016

Layne Christensen Company revised earnings guidance for the fourth quarter of 2015. The company has announced that for the fourth quarter of fiscal 2015, the company expects net loss from continuing operations to be between $22 million and $25 million, or a $1.10 to $1.25 loss per diluted share, compared to the previous guidance of $12 million and $12.5 million, or a $0.60 to $0.65 loss per diluted share. The company continue to expect that the results for fiscal 2016 will improve over fiscal 2015.

 

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Price/Book 0.6x
Price/Cash Flow NM Not Meaningful
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