Geospace Q1 revenue $31.1M (+73% YoY); net loss narrows to $0.1M from $6.8M

GEOSPACE TECHNOLOGIES CORP

2023-Q1 EPS reported -$0.01 revenue$31,109,000

Revenue $31.1M, highest quarterly revenue since 2014; Oil & Gas segment up 109% to $20.1M.
Net loss of $0.1M ($0.01 loss per diluted share) vs. $6.8M loss ($0.52 loss) year ago.
Adjacent Markets segment revenue up 32% to $10.9M on higher smart water meter cable demand.
Liquidity $20.8M; FY2023 capex budget $7.3M, including $6.0M for rental equipment.
Post-quarter contract for Quantum subsidiary; plans to sell Houston facility to consolidate operations.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GEOSPACE TECHNOLOGIES CORP reported first quarter fiscal year 2023 results: revenue $31.1 million, net income $0.1 million, or $(0.01) per diluted share, EPS $(0.01) per diluted share.

Period: first quarter fiscal year 2023
Revenue: $31.1 million
Net income: $0.1 million, or $(0.01) per diluted share
EPS: $(0.01) per diluted share
Result: reported results

Exact text from the filing

(NASDAQ: GEOS) (the “Company”) today announced results for its first quarter ended December 2022. For the three-months ended December 31, 2022, Geospace reported revenue of $31.1 million compared to revenue of $18.0 million for the comparable year-ago quarter. Net loss for the three-months ended December 31, 2022 narrowed to $0.1 million, or $(0.01) per diluted

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Source: SEC EDGAR

accession 0000950170-23-002194

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