MIND Technology posts Q2 revenue $13.6M, net income $1.9M, reversing prior quarter loss

MIND TECHNOLOGY, INC

Revenue $13.6M, up from $7.9M Q1 and $10.0M year ago; operating income $2.7M.
Net income $1.9M ($0.24/share) vs net loss $970k ($0.12/share loss) in Q1; prior year net loss $149k.
Adjusted EBITDA $3.1M vs negative $179k Q1 and $1.8M year ago.
Backlog $12.8M, down from $21.1M at April 30; CEO expects imminent orders to restore.
After-market sales 68% of H1 revenue; company bullish on rest of fiscal year.

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