Layne Christensen Company (LAYN)

Toddq34 (< 20) Submitted: 4/08/08 10:45 AM : Start Price: $41.41 LAYN Score: -18.50

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.

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