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) has acquired Aquana, LLC, a provider of wireless water monitoring systems, for an initial payment of $1.4 million, plus contingent payments over six years based on Aquana's revenue. Aquana will operate as a subsidiary, enhancing Geospace's capabilities in the water utility market. The deal aims to leverage Aquana's IoT platform, which features remote shut-off and leak detection systems, to capture a portion of the $1.4 billion remote shut-off valve market. This acquisition supports Geospace's diversification strategy and aims to improve service efficiency for water utilities.
Geospace Technologies (NASDAQ: GEOS) reported a net loss of $7.2 million, or $(0.53) per diluted share, on revenue of $23.9 million for Q2 2021, down from a net loss of $3.8 million on revenue of $25.9 million in Q2 2020. For the six months ending March 31, 2021, revenue increased to $52.4 million from $43.6 million, but the net loss narrowed to $8.2 million. Challenges from COVID-19 affected operations, particularly in the Oil and Gas Markets, but signs of recovery and increasing demand for future rentals are noted.
Geospace Technologies (NASDAQ: GEOS) will announce its second quarter 2021 financial results on May 6, 2021 after market close. A conference call is scheduled for May 7, 2021, at 10:00 a.m. Eastern Time. Participants can join by dialing (866) 342-8591 for U.S. calls or (203) 518-9822 for international calls, referencing conference ID: GEOSQ221.
Geospace designs and manufactures seismic instruments primarily for the oil and gas sector, also serving other industries with products for various applications.
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.