Layne Christensen Offers Added Details on 'Improved Liquidity Position'

Layne ChristensenCompany (Nasdaq: LAYN) ("Layne" or the "Company") today provided additionalinformation regarding the improvement in its liquidity position during thethird quarter ending October 31, 2014 ("Q3 FY 2015"). This metric was includedin a press release issued by Layne on October 23, 2014 that provided guidancefor Q3 FY 2015. Layne monitors its liquidity by combining current domestic cash on hand andtotal availability under the ABL facility, less a $25 million portion of theABL that would trigger a covenant compliance period. Using this methodology,Layne's liquidity has increased $21 million to approximately $65 million, upfrom approximately $44 million at Q2 FY 2015.  Combining total current worldwide cash and total availability under the ABL(including the above-referenced $25 million portion), Layne's liquidityposition at Q3 FY 2015 rose to approximately $106 million from approximately$84 million at Q2 FY 2015.   David A.B. Brown, President & CEO of Layne, commented, "We understand thatsome of our investors calculate our liquidity using different methodologies,and have therefore provided this clarification. I will re-iterate that weremain confident in the direction of our business and the progress we aremaking to improve Layne's operating results."These preliminary results could differ materially from the final results thatwill be reported on or about December 10, 2014, for Q3 FY 2015. The expectedresults presented in this release are preliminary, have not been reviewed byour independent registered public accountants and will be dependent on ourfinal results for the balance of October, and are subject to regular closingprocesses that could result in significant adjustments.