NEW YORK (Thomson Financial) - Layne Christensen Co. Tuesday said
third-quarter net income rose to $9.9 million, or 59 cents a share, from $7.8
million, or 50 cents a share, in the same period last year.
Third-quarter revenue increased 21% to $225.2 million from $185.8 million in
the comparable quarter a year ago.
The mean estimate of analysts polled by Thomson Financial was for earnings
of 57 cents a share and revenue of $222 million in the period ended Oct. 31.
"The fourth quarter will be the company's toughest year-over-year
comparison. A lot will depend on the weather and the extent of the year-end shut
down in mining," the company said.
Analysts' consensus view is for fourth-quarter earnings of 36 cents a share
and sales of $202 million.
Shares of the Mission Woods, Kan.-based drilling company closed Monday at
$57.43.
Melinda Peer
mp/pc
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