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Geospace Technologies Reports Fiscal Year 2018 First Quarter Results

GEOSPACE TECHNOLOGIES (GEOS)  More Company Research Source: Business Wire
Last geospace technologies earnings: 5/4 05:01 pm Check Earnings Report
PDF HOUSTON--(BUSINESS WIRE)-- Geospace Technologies (NASDAQ: GEOS) today announced a net loss of $9.5 million, or $0.72 per diluted share, on revenue of $14.6 million for its first quarter ended December 31, 2017. This compares with a net loss of $11.7 million, or $0.89 per diluted share, on revenue of $15.3 million for the prior year. Walter R. ("Rick") Wheeler, President and CEO of Geospace Technologies, said, "Our first quarter revenue of $14.6 million represents a decrease of 4% from last year’s first quarter. Notwithstanding a $3.8 million reduction in rental revenue and a $0.3 million portion of termination costs included in our cost of goods sold, we experienced an improvement in our first quarter gross profit margins. The improvement over last year primarily resulted from the sale of 14,000 single-channel GSX stations from our rental fleet to an international seismic contractor and a $2.7 million re [Read more]

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