Layne Christensen Company (LAYN) reported a second-quarter net loss from continuing operations of $2.76 million compared to profit of $10.91 million last year. Loss per share from continuing operations was $0.15 compared to profit per share of $0.53 prior year. Revenues were $289.56 million compared to $289.31 million last year.
The company noted that its second-quarter of fiscal 2013 included a $7.7 million net non-cash loss on the remeasurement of an equity investment. Excluding this loss, net income from continuing operations was $4.8 million or $0.25 per share.
Analysts polled by Thomson Reuters expected the company to report profit of $0.43 per share on revenue of $292.72 million for the quarter. Analysts' estimates typically exclude special items.
Net loss attributable to company was $24.02 million or $1.23 per share compared to profit of $10.61 million or $0.54 per share last year. During second quarter of fiscal 2013, Layne's Energy Division was reclassified as a discontinued operation, resulting in a net loss from discontinued operations of $21.1 million, or $1.08 per share. Included in the net loss is an after tax non-cash loss of $20.0 million to write down the carrying value of the Energy Division assets to the expected selling price, less costs to sell.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.