SAExploration Announces Third Quarter 2018 Unaudited Consolidated Financial Results
SAEXPLORATION HOLDINGS (SAEX)
US:NASDAQ Investor Relations:
investors.saexploration.com
Company Research
Source: GlobeNewswire
HOUSTON, Nov. 13, 2018 (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW) today announced its financial results for the third quarter of 2018. Third Quarter 2018 Summary Revenue of $15.0 million, compared to $22.5 million in Q3 2017Gross (loss) profit of $(4.0) million, or (26.9)% of revenues, compared to $1.5 million, or 6.6% of revenues, in Q3 2017Adjusted gross (loss) profit, a non-GAAP measure, of $(1.1) million, or (7.2)% of revenues, compared to $4.3 million, or 19.1% of revenues, in Q3 2017Net loss attributable to SAExploration of $25.3 million, compared to $13.8 million in Q3 2017Adjusted EBITDA, a non-GAAP measure, of $(8.9) million, compared to $(1.2) million in Q3 2017Contracted backlog of $173.2 million through 2019 and $383.7 million of bids outstanding as of September 30, 2018Acquired substantially all of the assets of Geokinetics in a transformative and accretive transaction for $21.7 million, including transaction advisory fees and other
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