Layne Christensen (LAYN) Misses Q1 EPS by 14c; Sees Return to Profitablity in FY18

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Go back to Layne Christensen (LAYN) Misses Q1 EPS by 14c; Sees Return to Profitablity in FY18

Layne Christensen Reports First Quarter Fiscal 2017 Results

June 6, 2016 5:54 PM EDT

THE WOODLANDS, Texas, June 6, 2016 /PRNewswire/ -- Layne Christensen Company (NASDAQ: LAYN) ("Layne" or the "Company") today announced financial and operating results for the fiscal 2017 first quarter (Q1 FY 2017) ended April 30, 2016.

Highlights

Reported net loss from continuing operations for Q1 FY 2017 was ($8.8) million, or ($0.45) per share, compared to ($6.6) million, or ($0.34) per share, for Q1 FY 2016. Q1 FY 2016 results included a $4.2 million gain, or $0.22 per share, on extinguishment of debt. Adjusted EBITDA (a non-GAAP financial measure as defined below) was $4.5 million in Q1 FY 2017 compared to... More