Layne Christensen Co. (LAYN) announced fiscal second-quarter results yesterday after the closing bell. The company reported GAAP net loss of $8.6 million or 45 cents per share, compared to GAAP net income of $15.1 million or 78 cents per share in the year-ago quarter. Excluding a non-cash impairment charge, net income came in at $4.4 million or 23 cents per share, beating the Zacks Consensus Estimate by nearly 92%, or 11 cents. Layne Christensen is engaged in providing drilling services and related products and services in 4 principal markets: water infrastructure, mineral exploration, geotechnical construction and oil and gas. The company’s customers include municipalities, industrial, mining, oil and gas companies and consulting and engineering firms. The Mission Woods, Kansas-based company’s revenue slumped 19.4% year over year to $217.2 million, still it came in ahead of the Zacks Consensus Estimate of $214.8 million. Sales from ...

Layne Christensen Company (LAYN) has seen its stock fall in the market sell-off despite posting record revenues that grew 23.8% in the second quarter. LAYN has surprised on earnings 3 out of the last 4 quarters on average by 19.18%. Layne has a forward P/E of 8.05.

Company Description

Layne Christensen, a Zacks #1 Rank (strong buy), provides drilling services in four markets: water resources, mineral exploration, geoconstruction and energy services and production.

Its customers include a large cross section of industries from municipalities, industrial companies, miners, oil and gas companies and consulting firms. The company operates in the U.S., Canada, Mexico, Australia, Africa and South America.

Layne has several different revenue streams, including Layne Energy, an exploration and production company with over 400 wells in the Mid-Continent Cherokee Basin.

Its Water Resource Division provides water related services including hydrological studies, well design, drilling and

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