Welcome to our dedicated page for Geospace Technologies news (Ticker: GEOS), a resource for investors and traders seeking the latest updates and insights on Geospace Technologies stock.
Geospace Technologies Corporation reports news on its technology and instrumentation business serving smart water, energy exploration, industrial, government and commercial customers. Recurring updates include quarterly and annual results, earnings-call schedules, customer contracts and product activity across advanced sensing, IoT and ruggedized equipment.
Company developments also cover Energy Solutions products such as Pioneer™ ultralight seismic land nodes, Smart Water systems, and Intelligent Industrial offerings that include industrial sensors, contract manufacturing, border and perimeter security solutions, Heartbeat Detector® technology and the Exile product portfolio.
Geospace Technologies (NASDAQ: GEOS) reported its highest first quarter earnings in seven years, narrowing its net loss to $1.1 million or $(0.08) per diluted share on revenue of $28.5 million for the first quarter ended December 31, 2020. This marks a significant improvement from a net loss of $9.3 million on revenue of $17.7 million in the previous year. Key highlights include a $9.9 million sale of an OBX nodal marine system and significant revenue growth in its Emerging Markets segment, totaling $8.8 million.
Geospace Technologies (NASDAQ: GEOS) will announce its first quarter 2021 financial results on February 3, 2021, after market close. A conference call is scheduled for February 4, 2021, at 10:00 a.m. ET. Participants can join via phone by calling (877) 876-9173 for U.S. callers or (785) 424-1667 for international participants, using the conference ID: GEOSQ121. The company focuses on designing and manufacturing seismic instruments for the oil and gas industry, as well as products for various geotechnical applications.
Geospace Technologies (NASDAQ: GEOS) reported a net loss of $19.2 million for the fiscal year ended September 30, 2020, compared to a net loss of $146,000 last year. Revenue dropped to $87.8 million from $95.8 million. The fourth quarter saw revenue of $21.5 million and a net loss of $3.9 million. The company noted a 32% decrease in revenue from its Oil and Gas segment, attributed largely to COVID-19 impacts. Despite challenges, Geospace generated $18 million in cash from operations, maintaining a total liquidity of $50.4 million.
Geospace Technologies (NASDAQ: GEOS) has appointed Kenneth Asbury and Sid Ashworth to its board of directors, effective December 1, 2020. Asbury, former CEO of CACI International, brings over 30 years of leadership experience, while Ashworth, ex-VP of Government Relations at Northrop Grumman, contributes 25 years in legislative affairs. Their expertise aims to enhance Geospace’s growth in security and surveillance technologies, particularly through its acquisitions of Quantum Technology Sciences and OptoSeis®.
Geospace Technologies (NASDAQ: GEOS) will release its fiscal year 2020 financial results on November 19, 2020, after market closure. A conference call is scheduled for November 20, 2020, at 10:00 a.m. Eastern Time. U.S. participants can join via phone at (866) 518-6930, with an international line available at (203) 518-9797. The call will be referenced using the ID: GEOSQ420. A replay will be accessible through the company's website for 60 days.
Geospace designs and manufactures seismic instruments mainly for the oil and gas industry.