NEW YORK (Thomson Financial) - Layne Christensen Co. Tuesday said
first-quarter net income was $10.6 million, or 55 cents a share, above the mean
estimate of analysts polled by Thomson Reuters of 54 cents a share.
Revenue for the Mission Woods, Kan.-based drilling company rose 21% to
$244.5 million, above the $231.6 million analyst estimate.
In the year-ago period, the company posted net income of $8.2 million, or 52
cents a share, on revenue of $201.6 million.
Shares of Layne Christensen closed Monday at $53.17. The stock is up about
16% over the past 52 weeks.
Ryan Vlastelica
rv/pc
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