THE WOODLANDS, Texas, June 6, 2014 (GLOBE NEWSWIRE) -- Layne Christensen Company (Nasdaq: LAYN ) ("Layne" or the "Company") announced today that it will file a Form 12b-25 Notification of Late Filing with the U.S. Securities and Exchange Commission with regard to its Quarterly Report on Form 10-Q for the fiscal first quarter ended April 30, 2014 (Q1 FY 2015). The Company requires additional time to complete its operational analysis and financial outlook in order to complete relevant disclosures for inclusion in the Company's Quarterly Report on Form 10-Q. As a result, the Company could not complete its Q1 FY 2015 Form 10-Q in a timely manner without incurring unreasonable burden and expense.
Accordingly, the release of Layne's financial results for Q1 FY 2015 and the investor conference call scheduled for Monday, June 9 have been rescheduled.
Layne will now issue its financial results for Q1 FY 2015 on Monday, June 16, 2014 before the opening of the stock market. Management will conduct a conference call that day at 11:00 am ET / 10:00 am CT to discuss the results.
Interested parties may participate in the call by dialing:
- (877) 212-6082 (Domestic)
- (707) 287-9332 (International)
The conference call will also be broadcast live via the Investor Information section of Layne's website at www.layne.com . To listen to the live call, please go to the website at least 15 minutes early to register, download and install any necessary audio software. If you are unable to listen live, the conference call will be archived on the website for approximately 90 days.
Layne Christensen Company
Layne is a global water management, construction and drilling company, providing responsible solutions to the world of essential natural resources — water, mineral and energy. We offer innovative, sustainable products and services with an enduring commitment to safety, excellence, and integrity.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. Such statements may include, but are not limited to, statements of plans and objectives, statements of future economic performance and statements of assumptions underlying such statements, and statements of management's intentions, hopes, beliefs, expectations or predictions of the future. Forward-looking statements can often be identified by the use of forward-looking terminology, such as "should," "intended," "continue," "believe," "may," "hope," "anticipate," "goal," "forecast," "plan," "estimate" and similar words or phrases. Such statements are based on current expectations and are subject to certain risks, uncertainties and assumptions, including but not limited to: the outcome of the ongoing internal investigation into, among other things, the legality, under the FCPA and local laws, of certain payments to agents and other third parties interacting with government officials in certain countries in Africa relating to the payment of taxes and the importing of equipment (including any government enforcement action which could arise out of the matters under review or that the matters under review may have resulted in a higher dollar amount of payments or may have a greater financial or business impact than management currently anticipates), prevailing prices for various commodities, unanticipated slowdowns in the Company's major markets, the availability of credit, the risks and uncertainties normally incident to the construction industry, the impact of competition, the effectiveness of operational changes expected to increase efficiency and productivity, worldwide economic and political conditions and foreign currency fluctuations that may affect worldwide results of operations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially and adversely from those anticipated, estimated or projected. These forward-looking statements are made as of the date of this filing, and the Company assumes no obligation to update such forward-looking statements or to update the reasons why actual results could differ materially from those anticipated in such forward-looking statements.
Layne Christensen Company Jim Easter Chief Financial Officer 281-475-2694 Jenny Caulk Director of Communications 281-475-2621 The Equity Group Inc. Devin Sullivan Sr. Vice President 212-836-9608 Thomas Mei Associate 212-836-9614
