$26.15
0.31 (+1.20%)
Layne Christensen Company (LAYN)
CAPS Rating:
The Company provides drilling and construction services and related products in two principal markets: water and wastewater infrastructure and mineral exploration, as well as being a producer of unconventional natural gas for the energy market.
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Layne Christensen Co., which provides drilling and construction services, said Tuesday its fiscal fourth-quarter earnings soared 44 percent, mostly due to growth in its mineral exploration division.
The company earned $9.6 million, or 50 cents per share, compared with $6.7 million, or 42 cents per share, in the prior-year period.
Revenue rose 16 percent to $223.6 million, from $193.1 million in the year-ago quarter.
Analysts were expecting a profit of 37 cents per share on revenue of $214.5 million, according to a poll by Thomson Financial.
The company said sales in the mineral exploration division rose 28 percent to $47.6 million in the quarter, helped by strength in Latin America and high metals pricing.
For the full year, the company posted a profit of $37.3 million, or $2.20 per share, compared with $26.3 million, or $1.68 per share, in fiscal 2006.
Revenue jumped 20 percent to $868.3 million.