Last $6.31 USD
Change Today -1.85 / -22.67%
Volume 2.1M
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As of 8:10 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

layne christensen company (LAYN) Key Developments

Layne Christensen Company Provides Earnings Guidance for the Third Quarter of 2014

Layne Christensen Company provided sales guidance for the third quarter of 2014. The company announced that third quarter sales should be between $210 million and $215 million. Net loss from continuing operations is expected between $0.55 to $0.60 per share. Estimates, usually less items, are for a loss of $0.26 per share.

Layne Christensen Company and its Lenders Entered into a Second Amendment to its Credit Agreement

On September 15, 2014, Layne Christensen Company and its lenders entered into a Second Amendment to its Credit Agreement, dated as of April 15, 2014, among the Company, PNC Bank, National Association, as administrative agent, and the lenders and other parties thereto. Effective September 15, 2014, the interest rate under the Credit Agreement was amended to set the applicable margin to 3.25% for Eurodollar loans and 2.25% for ABR loans until the last day of the first quarter after which the company achieves a consolidated fixed charge coverage ratio of at least 1.00 to 1.00 for two consecutive fiscal quarters. The Amendment also excludes from the borrowing base an amount equal to the net book value of certain specialized equipment which the Company's surety has the right to use to complete bonded contracts, which amount is initially equal to $7 million. Finally, the Amendment requires the Company to deliver additional monthly and quarterly reports to the administrative agent and to retain a third party expert to review certain of the company's construction contracts.

Layne Christensen Company Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 31, 2014

Layne Christensen Company announced unaudited consolidated earnings results for the second quarter and six months ended July 31, 2014. For the quarter, the company reported revenues of $210,363,000 against $221,254,000 a year ago. Loss from continuing operations before income taxes was $11,954,000 against $28,199,000 a year ago. Net loss from continuing operations was $12,119,000 or $0.63 per share basic and diluted against $78,735,000 or $4.03 per share basic and diluted a year ago. Net loss attributable to company was $55,028,000 or $2.81 per share basic and diluted against $74,820,000 or $3.81 per share basic and diluted a year ago. For the six months, the company reported revenues of $388,522,000 against $438,683,000 a year ago. Loss from continuing operations before income taxes was $38,141,000 against $45,054,000 a year ago. Net loss from continuing operations was $40,077,000 or $2.10 per share basic and diluted against $45,054,000 or $5.23 per share basic and diluted a year ago. Net loss attributable to company was $82,756,000 or $4.22 per share basic and diluted against $98,598,000 or $5.03 per share basic and diluted a year ago.

Layne Christensen Company to Report Q2, 2015 Results on Sep 09, 2014

Layne Christensen Company announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Sep 09, 2014

Layne Christensen Company, Q2 2015 Earnings Call, Sep 09, 2014

Layne Christensen Company, Q2 2015 Earnings Call, Sep 09, 2014

 

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