Layne Christensen Company (NASDAQ:LAYN)

WEB NEWS

Wednesday, June 2, 2010

Comments & Business Outlook
Financial Data Three Months %
(in 000's, except per share data) 4/30/10 4/30/09 Change
Revenues      
 --Water infrastructure $ 172,905 $ 168,087 2.9
 --Mineral exploration 45,878 24,794 85.0
 --Energy 9,549 10,321 (7.5)
 --Other  2,383     990 140.7
Total revenues    230,715    204,192 13.0
Net income attributable to Layne Christensen Company 6,571 996 559.7
Diluted earnings per share 0.34 0.05 580.0
Weighted average dilutive shares outstanding 19,541 19,334 1.1

"The extremely sharp turnaround in our mineral exploration business in North America and Africa produced a strong quarter considering where we were a year ago. Our water supply project in Afghanistan also was an important contributor to earnings and the rest of the water infrastructure side of our business improved as well. Going forward, the question will be whether a stronger mineral exploration market and, hopefully, some turnaround in the housing and municipal infrastructure markets, can compensate for the reduced earnings as a result of lower current natural gas prices and the New Orleans project that was completed during this quarter."---Andrew B. Schmitt, President and Chief Executive Officer



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