- Layne Christensen (LAYN -5.7%) slumps after reporting its FQ2 loss widened on declining revenue driven by weak results in its mining and geoconstruction segments.
- LAYN's heavy-civil unit, which builds critical water and wastewater treatment facilities and installs pipelines, cut its loss to near breakeven but the company had expected the unit to become profitable again by mid-2013.
- Overall revenue fell 19% to $232M, heavy-civil revenue slid 0.8% to $75.8M, mining revenue tumbled 41% to $50.2M amid slumping gold and copper prices and weaker demand from China.