Layne

http://www.cornersofworld.com/category/uncategorized/
Layne’s stock closed on Thursday at $13.10, down $4.71, or 26.5 on volume of 738,37p0 shares, according to Yahoo Finance. The stock’as average daily volume the past thred monthsis 320,550 shares. In a releas before the market opened on theMission Woods-based company (Nasdaq: LAYN) reported earningzs of $12.2 million, or 63 cents a for the quarter that ended Oct. 31. This is a 23 percentt increase from earningsof $9.9 million, or 59 centxs a share, last year. Revenue for the quartere was $264.5 million, up 17 percent from $225. 2 million last year.
Company CEO Andrew Schmitt said in the release that customerse in its mineralssegmentg “are reducing exploration programs” and that its water business project s “have become more price “All of our operating unitzs did an outstanding job this quarter delivering positive resultse despite the increasingly difficult economic environment,” Schmit t said in the release. “Like most companies, we are movingh quickly to match expenses in our various businessesz to reductions in revenue as thosebecome apparent.” Revenue rose 22.4 percengt in the company’s water infrastructure 12.2 percent in mineral exploration and 8 percentt in energy.
The company’s “other” categoryg showed a 66.5 percent revenue decreas compared withlast year. Last year, the othef category included $3.17 million in revenuew for the quarter and nine months thatended Oct. 31 relateds to two contracts to provide consultingh and logistical support for international projects in Canada and Excluding that revenuelast year, the company’s revenude in that category in this year’s quarter was comparablr to last year. Layne Christensen provideas products and services forthe water, mineraol and energy markets. It ranks No. 17 on the Kansads City BusinessJournal ’s list of area publid companies.