SAExploration Announces First Quarter 2019 Unaudited Consolidated Financial Results
SAEXPLORATION HOLDINGS (SAEX)
US:NASDAQ Investor Relations:
investors.saexploration.com
Company Research
Source: GlobeNewswire
HOUSTON, May 13, 2019 (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW) today announced its unaudited consolidated financial results for the first quarter (“Q1”) ended March 31, 2019. First Quarter 2019 Summary Revenue of $93.4 million, an increase of 151.6% from $37.1 million in Q1 2018Gross profit of $20.3 million, or 21.8% of revenues, up 133.7% from $8.7 million, or 23.4% of revenues, in Q1 2018Adjusted gross profit, a non-GAAP measure, of $23.2 million, or 24.8% of revenues, up 108.6% from $11.1 million, or 29.9% of revenues, in Q1 2018Net income (loss) attributable to SAExploration of $3.8 million, or $0.50 basic income per share and $0.26 diluted income per share, up from $(2.3) million, or $(92.06) basic and diluted loss per share, in Q1 2018Adjusted EBITDA, a non-GAAP measure, of $15.9 million, or 17.0% of revenues, an increase of 163.8% from $6.0 million, or 16.3% of revenues, in Q1 2018Contracted backlog of $183.9 million through Q1 2020 and
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