Layne Christensen Co. announced the launch of the water transfer business within the Layne Energy Services Division. Layne is currently providing these services for its clients operating in the Permian Basin. Layne Energy Services was formed to address the unique and substantial water demands of the energy industry in a responsible and sustainable fashion. Layne's Energy Services Division will provide solutions to manage every phase of the water cycle as it relates to its use in the oil & gas industry (conventional and unconventional), including: hydrogeological investigation and sourcing; transfer; storage; treatment; and well testing. The transfer business transmits water from point-to-point using a variety of piping, containment, and management techniques that are efficient, cost-effective and eliminate the need for trucking.

As previously announced on December 6, 2012, in connection with Layne Christensen Company's relocation of its corporate headquarters to The Woodlands, Texas, Jerry Fanska, the Company's Senior Vice President Finance and Chief Financial Officer provided notice of his intention to terminate his employment with the Company. On May 2, 2013, the Board of Directors of the Company elected James R. Easter, 56, as Senior Vice President, Chief Financial Officer of Layne effective as of May 6, 2013. Mr. Fanska will remain an employee of the Company at his current base salary during a transition period to be determined by the Company. Prior to joining Layne, Mr. Easter was engaged in personal investing from December 2012 through May 2013. Prior to that, Mr. Easter was a co-founder and Chief Financial Officer of SEH Offshore Ventures, LLC, the focus of which was to acquire and operate an international fleet of standard class jack-up drilling units, from May 2011 to December 2012.

Layne Christensen Co. announced consolidated earnings results for the fourth quarter and year ended January 31, 2013. For the quarter, the company reported revenues declined to $229,742,000 from $271,924,000 in last year’s fourth quarter. With the exception of Geoconstruction, revenues in fourth quarter of fiscal year 2013 declined across all operations, most significantly at the Heavy Civil and Mineral Exploration divisions. Loss from continuing operations before income taxes was $36,522,000 against $98,318,000 a year ago. Net loss from continuing operations was $22,095,000 or $1.13 basic and diluted per share against $86,576,000 or $4.50 basic and diluted per share a year ago. Net loss attributable to company was $24,852,000 or $1.27 basic and diluted per share against $88,504,000 or $4.55 basic and diluted per share a year ago. For the year revenue was $1,075,624,000 from $1,112,758,000 in last year’s fourth quarter. Loss from continuing operations before income taxes was $19,223,000 against $43,508,000 a year ago. Net loss from continuing operations was $10,947,000 or $0.59 basic and diluted per share against $53,129,000 or $2.88 basic and diluted per share a year ago. Net loss attributable to company was $36,651,000 or $1.88 basic and diluted per share against $56,075,000 or $2.88 basic and diluted per share a year ago. For the quarter, Impairment charges were $7,292,000 against $96,579,000 a year ago. The Board of Directors of the company has approved an amendment and restatement of the company's Bylaws effective as of April 12, 2013.