Geospace Q3 revenue $32.7M (+58% YoY), net income $0.24/shr vs ($0.51) loss

GEOSPACE TECHNOLOGIES CORP

2023-Q3 EPS reported $0.59 revenue$95,194,000

Q3 revenue $32.7M, highest quarterly revenue in nine years; net income $3.2M.
Oil & Gas segment revenue $17.7M (+85.7% YoY) on higher OBX rental utilization and sensor demand.
Adjacent Markets segment revenue $14.9M (+35.9%) driven by water meter cables and industrial sensors.
Cash and equivalents $27.3M, no debt; new $15M credit facility with Woodforest National Bank.
Nine-month revenue $95.2M (+50% YoY); net income $7.8M ($0.59/shr) vs ($1.14) loss in prior year.

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 its third quarter ended June 30, 2023 results: revenue $32.7 million, net income $3.2 million, or $0.24 per diluted share.

Period: its third quarter ended June 30, 2023
Revenue: $32.7 million
Net income: $3.2 million, or $0.24 per diluted share
Result: reported results

Exact text from the filing

Geospace Technologies Corporation (NASDAQ: GEOS) (the “Company”) today announced results for its third quarter ended June 30, 2023. For the three-months ended June 30, 2023, Geospace reported revenue of $32.7 million, a 58% increase compared to revenue of $20.7 million for the comparable year-ago quarter. Net income for the three-months ended June 30, 2023 was $3.2 million, or $0.24 per diluted share, compared to a net loss of $6.6 million, or ($0.51) per diluted share, for the quarter ended June 30, 2022.

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Source: SEC EDGAR

accession 0001437749-23-023116

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