Welcome to our dedicated page for Mind Technology news (Ticker: MIND), a resource for investors and traders seeking the latest updates and insights on Mind Technology stock.
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 reported significant financial gains for the fourth quarter of fiscal 2023, with revenues from Marine Technology Products surging to $12.4 million, a remarkable increase from $4.9 million in the prior quarter and $3.8 million year-over-year. The company achieved an income from continuing operations of approximately $445,000, marking a turnaround from losses in previous quarters. Adjusted EBITDA for the fourth quarter was approximately $1.4 million, a significant jump from a loss of $2.7 million in the previous quarter. The backlog of Marine Technology Products reached $20.7 million, up 58% year-over-year, driven by robust demand. MIND anticipates continued revenue growth in fiscal 2024.
MIND Technology, Inc. (MIND) announced on April 18, 2023, that its Seamap unit has secured orders worth approximately $0.8 million from the Fraunhofer Institute for Wind Energy System IWES. These orders pertain to hydrophone arrays and equipment linked to the Manta Ray G2 system, expected to be delivered in fiscal 2024. The Manta Ray system aims to enhance marine object detection in offshore construction sites, particularly for wind energy applications. MIND operates globally, providing technology across various sectors, including oceanographic and seismic industries.
MIND Technology, Inc. (Nasdaq: MIND) announced that its Seamap unit has received orders totaling approximately $6.5 million from international seismic contractors for GunLink source controller systems and BuoyLink GNSS systems. These orders, which include related spares, are expected to be delivered in fiscal 2024. President and CEO Rob Capps expressed confidence in the company's opportunities, indicating a growing backlog of orders and strength in the exploration sector for towed streamer and nodal applications. The company’s operations span global markets, including locations in the United States, Singapore, Malaysia, and the United Kingdom, focusing on specialized marine sonar and seismic equipment.
MIND Technology, Inc. (NASDAQ: MIND) will report its fiscal 2023 fourth quarter and full year financial results on April 19, 2023, after market close. A conference call is scheduled for April 20, 2023, at 9:00 a.m. ET to discuss the results. Investors can join the call via phone or online. A replay of the call will be available until April 27, 2023. MIND Technology specializes in technology for various industries including oceanographic and defense sectors, and has operations in the US, Singapore, Malaysia, and the UK.
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