Key Developments: Layne Christensen Co (LAYN.OQ)

LAYN.OQ on NASDAQ Stock Exchange Global Select Market

8.60USD
22 May 2015
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Latest Key Developments (Source: Significant Developments)

Layne Christensen Co announces definitive agreement to sell Geoconstruction Business
Wednesday, 20 May 2015 06:00pm EDT 

Layne Christensen Co:Signs definitive agreement to sell its Geoconstruction business segment to a subsidiary of Keller Foundations, LLC, a member of Keller Group plc.Transaction is expected to close in next 45 days.Purchase price for Geoconstruction business segment will be about $34.5 million, plus value of business segment's working capital at closing, estimated to be $5 million.Says about $2.5 million of purchase price will be held in escrow at closing.In addition, Layne will share in profit or loss for one of contracts being assumed by Keller, which could increase purchase price by up to $5 million, or decrease it by up to $1.5 million.Says expects to use net proceeds from sale for general corporate purposes and to pursue selective growth opportunities in its core businesses.  Full Article

Layne Christensen announces new contracts valued at about $110 mln
Monday, 30 Mar 2015 08:00am EDT 

Layne Christensen Co:Announced a number of significant new contracts signed within the last 90 days with an aggregate value of about $110 million.Contracts were awarded to Layne's Geoconstruction, Inliner, Heavy Civil, Water Resources, and Mineral Services divisions.Says the majority of these projects are expected to be completed during the current fiscal year.  Full Article

Layne Christensen Co lowers Q4 2015 guidance
Monday, 2 Mar 2015 04:01pm EST 

Layne Christensen Co:Expects to report net loss from continuing operations for Q4 2015 of between $22.0 million and $25.0 million, or a $1.10 to $1.25 loss per diluted share.Q4 2015 net income of $(11.9) million and EPS of $(0.61) - Thomson Reuters I/B/E/S.  Full Article

Layne Christensen Co prices $100 million aggregate principal amount of senior secured second lien convertible notes
Wednesday, 4 Feb 2015 09:15pm EST 

Layne Christensen Co:Says that it has priced its issuance of about $100 million aggregate principal amount of 8.00 pct. Senior Secured Second Lien Convertible Notes.The notes will be issued to certain of the existing holders of the Company's 4.25 pct. Convertible Senior Notes due 2018 who have agreed to exchange $55.5 million of their existing convertible notes for about $49.9 million of the notes.and to purchase about $49.9 million aggregate principal amount of additional notes for cash.The company estimates that the net cash proceeds from the sale of the notes, after deducting placement agency discounts and commissions, estimated offering expenses payable by the company and accrued interest on the existing convertible notes being exchanged, will equal about $45.1 million.The company intends to use the net cash proceeds to repay amounts outstanding under its existing asset-based credit agreement (without reducing the commitments) and for general corporate purposes.  Full Article

Layne Christensen Co names Michael J. Caliel President and Chief Executive Officer
Wednesday, 10 Dec 2014 07:01am EST 

Layne Christensen Co:Says appointment of Michael J. Caliel as President and Chief Executive Officer, and Member of the Board of Directors, effective Jan. 2, 2015.Michael will succeed Brown who assumed the role of CEO on an interim basis in June 2014.Brown will continue to serve as Chairman of the Board.  Full Article

Layne Christensen Co gives Q4 2015 guidance below analysts' estimates
Wednesday, 10 Dec 2014 07:00am EST 

Layne Christensen Co:Expects Q4 2015 net loss of between $12.0 and $12.5 mln, which equates to a $0.60 to $0.65 loss per diluted share.Q4 2015 net income of $(5.47) million and EPS of $(0.39) - Thomson Reuters I/B/E/S.  Full Article

Layne Christensen Co gives Q3 2015 guidance below analysts' estimates
Thursday, 23 Oct 2014 04:26pm EDT 

Layne Christensen Co:Expects Q3 2015 to report revenues of between $210 million and $215 million.Expects Q3 2015 net loss from continuing operations to range between $10.8 million and $11.8 million, or $0.55 to $0.60 per diluted share.Q3 2015 revenue of $217 million, net income of $(5.2) million and EPS of $(0.26) - Thomson Reuters I/B/E/S.  Full Article

Layne Christensen Co's Geoconstruction Division receives $132.5 million contract
Thursday, 28 Aug 2014 11:30am EDT 

Layne Christensen Co:Says its Geoconstruction division has receives $132.5 mln contract from Pittsburgh District, U.S. Army Corp of Engineers for East Branch Dam located in Elk County, Pennsylvania.Work on project is scheduled to commence later this year and should be completed by end of 2018.Project involves installing concrete cut-off wall within existing embankment and bedrock, foundation grouting services, permanent dam modifications and installation of sophisticated electronic devices to monitor dam safety.East Branch Dam controls water from East Branch Lake, which is upstream from many communities in Elk County area.Resiliency of dam is crucial to mitigating potential floods.Work to be performed by Geoconstruction division and Bencor, wholly-owned subsidiary of Layne, will mitigate seepage and erosion throughout dam's foundation.  Full Article

Layne Christensen Co appoints new CFO
Monday, 21 Jul 2014 06:20pm EDT 

Layne Christensen Co:Appoints Andrew Atchison as Interim Chief Financial Officer, effective Aug. 01, 2014.Atchison will succeed James R. Easter, who resigned from Layne effective Aug. 01, 2014 to pursue other interests.Layne and its Board of Directors will conduct search to identify permanent CFO.  Full Article

Layne Christensen announces leadership transition with appointment of David A.B. Brown as president and chief executive officer
Wednesday, 25 Jun 2014 04:30pm EDT 

Layne Christensen Co:Announced that the company's Board of Directors and Rene J. Robichaud have decided upon a transition in leadership.Accordingly, Robichaud has resigned as the COMPANY'S President and Chief Executive Officer, effective immediately.David A.B. Brown, Layne's non-executive Chairman of the Board, has been appointed to serve in the additional capacities of President and Chief Executive Officer, effective immediately.  Full Article

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