SAExploration Announces Second Quarter 2018 Unaudited Consolidated Financial Results
SAEXPLORATION HOLDINGS (SAEX)
US:NASDAQ Investor Relations:
investors.saexploration.com
Company Research
Source: GlobeNewswire
HOUSTON, Aug. 08, 2018 (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW) today announced its financial results for the second quarter of 2018. Second Quarter 2018 Summary and Recent Developments Revenue of $16.9 million, compared to $13.6 million in Q2 2017Gross loss of $5.1 million, or -30.3% of revenues, compared to $1.0 million, or -7.5% of revenues, in Q2 2017Adjusted gross (loss) profit, a non-GAAP measure, of $(2.8) million, or -16.7% of revenues, compared to $1.9 million, or 14.2% of revenues, in Q2 2017Net loss attributable to SAExploration of $33.4 million, compared to $17.9 million in Q2 2017Adjusted EBITDA, a non-GAAP measure, of $(7.6) million, compared to $(3.8) million in Q2 2017Pro forma contracted backlog, including the effects of the Geokinetics acquisition, of $80.0 million through 2019 and $491.8 million of bids outstanding as of June 30, 2018Subsequent to June 30, 2018, acquired substantially all of the assets of Geokinetics in a tra
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