MIND Tech Q3 revenue $9.7M, net income $62K; backlog drops to $7.2M

MIND TECHNOLOGY, INC

Revenue of $9.7M vs $13.6M prior quarter and $12.1M YoY; operating income $774K vs $2.7M prior quarter.
Net income attributable to common $62K ($0.01 per share) vs $1.9M ($0.24) prior quarter and $15.7M ($2.87) YoY.
Adjusted EBITDA $1.3M vs $3.1M prior quarter and $2.0M YoY; after-market activity 64% of YTD revenue.
Backlog $7.2M at Oct 31, down from $12.8M in Jul; subsequent orders of $9.5M received after quarter end.
Raised $11M via ATM; ended quarter with $19.4M cash and $36M working capital ($4.00 per share).

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