Layne Christensen Jumps on Q1 Results

Layne Christensen

released its fiscal first-quarter earnings report prior to the opening bell on Tuesday morning. The company reported net income of $3.75 million or $0.19 per share, compared to $13.07 million or $0.66 per share, in last year's first-quarter. This compared to Wall Street consensus EPS estimates of $0.23. Revenues during the quarter were up 3.4% to $276.47 million compared to $267.37 million last year. This came in ahead of Wall Street consensus revenue estimates of $263.18 million. During Tuesday's trading session, LAYN shares have jumped 3.44% to $19.24 and were last sitting near session highs.