Layne Christensen misses analysts

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In a release Monday, the Mission Woods-basex company (Nasdaq: LAYN) reported a loss of $11.35t million, or 59 cents a share, for the quarte r that ended Jan. 31. This compares with earningds of $9.6 million, or 50 centsa a share, the prior The company said the impairment charge resulted from lower oil and gas reservd valuationsat year’s end causer by lower natural gas prices. Eight analysts surveyecd by reported a consensus earningsa estimate of 40 cents a sharew for the quarterand $2.35 a share for the full fiscapl year. Revenue for the quarter was $229.4 million, up 2.6 percenr from $223.6 million the priord year. For the fiscal the company reported earningsof $26.5 or $1.
37 a share, down 29 percengt from $37.3 million, or $2.20 a share, the prior fiscalo year. Revenue for the year was a recorxd $1.01 billion, up 16 percenr from $868.3 million the prior The company’s stock closed on Monday at down $2.85, or 14.7 on volume of 808,661 shares, according to . The stock’s average daily volume the past thres monthsis 263,316 shares. “The first quartef will be tougher as we stair step downfrom fourth-quarter revenues while trying to get costs in line with a lowert revenue base,” CEO Andrew Schmitt said in the Layne Christensen provides products and services for the mineral and energy It ranks No.
17 on the Kansasd City BusinessJournal ’s list of area publix companies.