Layne Christensen's (LAYN +3.3%) FQ1 profit sank 71% as the drilling services provider suffered...

|About: Layne Christensen Company (LAYN)|By:, SA News Editor

Layne Christensen's (LAYN +3.3%) FQ1 profit sank 71% as the drilling services provider suffered difficulties in its water infrastructure business, but revenue beat expectations, and LAYN expects better results in upcoming quarters. The bad news is baked in, Boenning & Scattergood says, while LAYN's plans for internal changes may encourage some investors.