Earnings Roundup For June 8

Layne Christensen Co LAYN reported stronger-than-expected first-quarter results on Wednesday. LAYN reported its quarterly net income at $13.1 million, or $0.66 per share, up from $6.6 million, or $0.34 per share, in the year-ago period. Excluding one-time items, LAYN's earnings came in at $0.51 per share. Its revenue surged 16% to $267.4 million. However, analysts were expecting earnings of $0.28 per share on revenue of $242.9 million. LAYN's cost of revenue surged 16.5% to $200,225,000, or 74.9% of revenue, versus $171,912,000, or 74.5% of revenue, in the year-ago period. Ciena Corp CIEN reported a wider-than-expected second-quarter loss and issued downbeat third-quarter revenue forecast. Ciena reported its quarterly net loss at $62.7 million, or $0.66 per share, versus a loss of $90.01 million, or $0.97 per share, in the year-ago period. Excluding items, Ciena's loss came in at $0.24 per share. Its quarterly sales surged 65% to $417.9 million. However, analysts were expecting a loss of $0.11 per share on revenue of $428.2 million. Ciena projects Q3 sales of $435 to $455 million, versus analysts' estimates of $456.1 million. Piedmont Natural Gas Company Inc PNY reported downbeat results for its second quarter on Wednesday. Piedmont reported its quarterly net income at $47.4 million and diluted earnings per share at $0.66, versus a net income of $46.8 million and diluted earnings per share of $0.65, in the year-ago period. The company's revenue dropped 17.0% y/y to $392.6 million. However, analysts were expecting earnings of $0.67 per share on revenue of $490.67 million. Piedmont Natural Gas reaffirmed its FY11 earnings forecast of $1.50 to $1.60 per share. Verint Systems Inc VRNT released its results for the fiscal first-quarter on Wednesday. Verint reported a quarterly loss at $112,000, or $0.10 per share, versus a year-ago loss of $16.2 million, or $0.60 per share. Excluding debt-extinguishment losses, derivative impacts and other items, Verint's earnings dropped to $0.56 from $0.57 per share. Its revenue climbed 2.2% to $176.3 million. However, analysts were expecting earnings of $0.54 per share on revenue of $179 million. Westport Innovations Inc WPRT released its results for the fourth quarter on Wednesday. Westport Innovations reported a Q4 loss at $0.31 per share, compared with a loss of $0.32 per share, in the year-ago period. The company's revenue came in at $38.1 million, versus $34.5 million, in the year-ago quarter. Cantel Medical Corp CMN reported an 18% rise in its net income for the third quarter on Wednesday. Cantel Medical reported its quarterly net income at $5,048,000, or $0.29 per share, compared with a net income of $4,274,000, or $0.25 per share, in the year-ago period. Its sales surged 24% to $82,619,000, compared with $66,559,000, in the year-ago quarter. Analysts were expecting earnings of $0.31 per share on revenue of $76.17 million. Read more from Benzinga's Markets.