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MIND Technology Inc (NASDAQ: MIND) delivers specialized solutions for marine exploration and security operations worldwide. This news hub provides investors and industry professionals with essential updates about the company's technological advancements and market position.
Access real-time announcements including quarterly earnings reports, product innovation launches, strategic partnerships, and operational developments. Our curated collection ensures you stay informed about MIND's seismic survey systems, hydrographic equipment updates, and maritime security solutions.
Discover official press releases covering key business segments: marine technology product enhancements, equipment leasing program expansions, and international project deployments. All content is sourced directly from verified corporate communications to maintain accuracy and compliance.
Bookmark this page for streamlined access to MIND's latest corporate milestones and industry-specific developments. Check regularly for updates impacting the oceanographic technology sector and related investment considerations.
MIND Technology, NASDAQ: MIND, announced its fiscal 2025 Q1 results, ending April 30, 2024.
Revenues from continuing operations were $9.7 million, down from $10.6 million YoY. Operating income rose to $730,000, up from $419,000 last year. Net income reached $954,000, reversing a loss of $240,000 in fiscal 2024's first quarter. Net income attributable to common shareholders was $7,000, or less than $0.01 per share, compared to a loss of $1.2 million, or $0.84 per share, last year.
Adjusted EBITDA from continuing operations was $1.5 million, up from $874,000. The backlog for Marine Technology Products in the Seamap segment increased to $31 million from $18 million YoY.
CEO Rob Capps attributed improved results to cost containment and production efficiencies, with a strong backlog and favorable macroeconomic conditions expected to boost revenue and profitability in fiscal 2025.
MIND Technology (NASDAQ: MIND) will release its fiscal 2025 first-quarter financial results on June 10, 2024, after market close. The company will hold a conference call to discuss these results on June 11, 2024, at 9:00 a.m. Eastern Time, available via live phone call or webcast. The conference call can be accessed by dialing (412) 902-0030 or visiting their website. A replay will be available until June 18, 2024, and an archive will be maintained on the website for 90 days. For further information, contact Dennard Lascar Investor Relations at MIND@dennardlascar.com.
MIND Technology (Nasdaq: MIND; MINDP) announces a virtual special meeting for holders of its 9% Series A Cumulative Preferred Stock on June 13, 2024. The meeting aims to approve an amendment allowing each share of preferred stock to convert into 3.9 shares of common stock. The record date for voting is April 26, 2024, and the proposal requires a two-thirds majority for approval. CEO Rob Capps emphasizes this change will enhance financial flexibility and simplify capital structure, addressing dividend overhang issues. A presentation on the proposal is available on the company's website.
MIND Technology, Inc. rescheduled the virtual special meeting of its 9% Series A Cumulative Preferred Stock holders to June 13, 2024, to vote on an amendment converting each preferred stock into 3.9 common shares. The revised proposal aims to simplify the capital structure, enhance financial flexibility, and provide a 112% premium to preferred stockholders.
MIND Technology, Inc. reported strong financial results for the fourth quarter and fiscal year 2024, with significant revenue growth and operating income. The company achieved its first profitable fiscal year since 2014, showing a positive trend in profitability and backlog growth. The CEO highlighted the strategic efforts put in place for future growth, emphasizing the need to manage liquidity and working capital effectively.
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