Geospace Technologies (GEOS) Reports Q1 Loss of $0.44

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Go back to Geospace Technologies (GEOS) Reports Q1 Loss of $0.44

Geospace Technologies Reports Fiscal Year 2019 First Quarter Results

February 5, 2019 4:01 PM EST

HOUSTON--(BUSINESS WIRE)-- Geospace Technologies (NASDAQ: GEOS) today announced that revenue for the first quarter ended December 31, 2018 increased 22% to $17.9 million from $14.6 million in the corresponding period of last year. Net loss for the first quarter decreased to $5.9 million, or $0.44 per diluted share, compared to a net loss of $9.5 million, or $0.72 per diluted share, in the same period last year.

Walter R. (Rick) Wheeler, President and CEO of Geospace Technologies, said, We are pleased to see our first quarter revenue increase by 22% over last year. This is our best first quarter revenue performance... More