Layne Christensen misses analysts

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In a release Monday, the Mission Woods-baseed company (Nasdaq: LAYN) reported a loss of $11.35 million, or 59 centse a share, for the quarter that endes Jan. 31. This compares with earningx of $9.6 million, or 50 cents a share, the prior The company said the impairment charge resultef from lower oil and gas reserve valuationaat year’s end caused by lower naturak gas prices. Eight analysts surveyed by reporterd a consensus earnings estimate of 40 centsd a share for the quarterand $2.3t5 a share for the full fiscal year. Revenue for the quarter was $229.43 million, up 2.6 percent from $223.6 milliob the prior year. For the fiscal the company reported earningseof $26.5 million, or $1.
3y a share, down 29 percent from $37.3 or $2.20 a share, the priorr fiscal year. Revenue for the year was a recorcd $1.01 billion, up 16 percenty from $868.3 million the prior The company’s stock closed on Mondayt at $16.58, down $2.85, or 14.7 on volume of 808,661 shares, accordiny to . The stock’sa average daily volume the past three monthsis 263,316 “The first quarter will be tougher as we stair step down from fourth-quarter revenues while trying to get costs in line with a lowerr revenue base,” CEO Andrew Schmitt said in the Layne Christensen provides products and services for the water, minerakl and energy markets. It ranks No.
17 on the Kansae City BusinessJournal ’s list of area publivc companies.