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Thursday, Dec 8
2011, 12:06 PM
Drilling-services company Layne Christensen (LAYN -4.4%) Q3 beats on revenue but comes up short...
Drilling-services company Layne Christensen (LAYN -4.4%) Q3 beats on revenue but comes up short on a per share basis as margins were pressed by higher material costs. Net income rose 6.8% Y/Y on continued growth at its mining segment, but it warns of weakness in its water infrastructure business, its largest top-line earnings contributor. The company added that due to its lagging civil construction business the unit is expected to underperform next year as well.