Layne Christensen Reports Third Quarter Fiscal 2016 Financial Results

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Go back to Layne Christensen Reports Third Quarter Fiscal 2016 Financial Results

Layne Christensen (LAYN) Misses Q3 EPS by 7c, Comments on Outlook

December 9, 2015 5:43 PM EST

Layne Christensen (NASDAQ: LAYN) reported Q3 EPS of ($0.17), $0.07 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $173.2 million versus the consensus estimate of $198.11 million.

CEO Commentary

Michael J. Caliel, President and Chief Executive Officer of Layne, commented, "Our third quarter results reflect the ongoing strength of our core water-related platforms, which again delivered higher revenues. In addition, we demonstrated meaningful progress in transforming our Heavy Civil division where we delivered close to break-even results as cost reductions, risk management initiatives and... More