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Layne Christensen Posts Profit In Q2 - Quick Facts

(RTTNews) - Drilling and construction services provider Layne Christensen Co. (LAYN) Thursday reported a profit for the second quarter compared to a loss last year, reflecting a nearly 17% revenues growth and the absence of non-cash impairment charges recorded last year in the energy division.

For the quarter, net income attributable to Layne Christensen was $6.45 million or $0.33 per share compared to a loss of $8.64 million or $0.45 per share in the previous year. The prior year results included an after-tax non-cash impairment charge of $13.0 million or $0.68 per share.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share. Analyst's estimates typically exclude special items.

Revenues for the three months rose 16.6% to $253.30 million from $217.23 million a year earlier. Market expectation was for revenues of $235.74 million for the period.