Life hasn't been easy for companies that make their living off of municipal infrastructure spending, but Layne Christensen (NASDAQ:LAYN) has still managed to "out-struggle" the likes of Mueller Water Products (NYSE:MWA) and Aegion (NASDAQ:AEGN) when it comes to overall performance. Granted Aegion and Mueller are of limited comparative value given the differences in business mix (particularly Mueller), but the point stands that Layne is struggling to find its way to profitability in the current environment. Management continues to tell an optimistic story of future success, but it takes pretty bullish expectations about the future to make these shares look appealing today.
Another Quarter, Another Miss
The fiscal fourth quarter reported last week marked the...
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