Geospace reports $22.9M FY2022 loss; Q4 revenue up 33% but full-year revenue down 6%

GEOSPACE TECHNOLOGIES CORP

2022-FY EPS reported -$1.76 revenue$89,253,000

Full-year revenue $89.3M, net loss $22.9M ($1.76/sh) vs. prior year $94.9M revenue, $14.1M loss ($1.05/sh).
Q4 revenue $25.9M (+33% YoY), net loss $8.0M ($0.62/sh) vs. Q4 2021 loss $5.0M ($0.39/sh).
Records $4.3M goodwill impairment in Emerging Markets and $5.0M non-cash benefit from contingent consideration.
Adjacent Markets segment revenue $39.2M (+21% YoY) record; Oil & Gas segment $49.1M (down 6%).
Cost-saving plan with workforce reductions expected to save >$2M/year; FY2023 capex guided at $7.3M.

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 0.9

GEOSPACE TECHNOLOGIES CORP reported fourth quarter ended September 30, 2022 results: revenue $25.9 million, net income net loss of $8.0 million, or ($0.62) per diluted share, EPS ($0.62) per diluted share.

Period: fourth quarter ended September 30, 2022
Revenue: $25.9 million
Net income: net loss of $8.0 million, or ($0.62) per diluted share
EPS: ($0.62) per diluted share
Result: reported results

Exact text from the filing

For the fourth quarter ended September 30, 2022, Geospace Technologies (the “Company”) reported revenue of $25.9 million and a net loss of $8.0 million, or ($0.62) per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GEOSPACE TECHNOLOGIES CORP reported fiscal year ended September 30, 2022 results: revenue $89.3 million, net income net loss of $22.9 million, or $(1.76) per diluted share, EPS $(1.76) per diluted share.

Period: fiscal year ended September 30, 2022
Revenue: $89.3 million
Net income: net loss of $22.9 million, or $(1.76) per diluted share
EPS: $(1.76) per diluted share
Result: reported results

Exact text from the filing

Geospace Technologies (NASDAQ: GEOS) today announced a net loss of $22.9 million, or $(1.76) per diluted share, on revenue of $89.3 million for its fiscal year ended September 30, 2022.

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Source: SEC EDGAR

accession 0001193125-22-288410

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