SAExploration Announces First Quarter 2018 Consolidated Financial Results
SAEXPLORATION HOLDINGS (SAEX)
US:NASDAQ Investor Relations:
investors.saexploration.com
Company Research
Source: GlobeNewswire
HOUSTON, May 15, 2018 (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ:SAEX) (OTCQB:SXPLW) today announced its unaudited consolidated financial results for the first quarter (“Q1”) ended March 31, 2018. First Quarter 2018 Summary Revenue of $37.1 million, compared to $86.2 million in Q1 2017Gross profit of $8.7 million, or 23.4% of revenues, compared to $25.1 million, or 29.2% of revenues, in Q1 2017Adjusted gross profit, a non-GAAP measure, of $11.1 million, or 29.9% of revenues, compared to $28.4 million, or 33.0% of revenues, in Q1 2017Net (loss) income available to common stockholders of $(38.5) million, or $(3.79) per share, compared to $6.8 million, or $0.73 per share, in Q1 2017Adjusted EBITDA, a non-GAAP measure, of $6.0 million, or 16.3% of revenues, compared to $22.7 million, or 26.4% of revenues, in Q1 2017Contracted backlog of $35.3 million through year-end 2018 and $401.4 million of bids outstanding as of March 31, 2018 Jeff Hastings, Chairman and CEO of SAE,
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