Cost of revenues increased $1.9 million or 0.8% to $230.5 million (79.6% of revenues) from $228.6 million (79.0% of revenues) for the same period last year. The increased percentage of revenues resulted from margin pressures across most divisions, especially those exposed to the municipal sector, as well as cost overruns in Heavy Civil for Q2 FY2013.Selling, general and administrative expenses increased 11.9% to $41.9 million from $37.5 million in last year's second quarter. The increase was primarily due to additional legal and professional fees of $3.5 million and $1.2 million of increased compensation costs, partially offset by reduction in various other expense categories.
Layne Christensen Reports Second Quarter Fiscal 2013 Financial Results
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