Mind Technology Inc - MIND STOCK NEWS

MIND Technology, Inc. (NASDAQ: MIND) will release its fiscal 2023 first-quarter financial results on June 8, 2022, after market close. A conference call will follow on June 9 at 9:00 a.m. ET, allowing investors to discuss the results. The call can be accessed via phone or through the company's website, with a replay available until June 16. MIND Technology specializes in marine sonar and seismic equipment, servicing various industries such as oceanographic and defense.

MIND Technology, Inc. (NASDAQ: MIND) announced the appointment of Alan P. Baden and Nancy Harned to its Board of Directors, effective May 2, 2022. Their extensive backgrounds in government and legal expertise are expected to enhance the company’s strategic direction and profitability. Harned brings over 34 years of experience with the Department of Defense, while Baden has a robust legal background in finance. The Board's Chairman, Peter H. Blum, expressed optimism regarding their contributions to MIND's future.

MIND Technology, Inc. (NASDAQ: MIND) announced its fiscal 2022 results, reporting total revenues of $23.1 million, up from $21.2 million in 2021. However, fourth quarter revenues decreased to $3.8 million, down from $8.3 million in Q3 2022. The company faced a net loss of $18.0 million for the year, a slight improvement from $22.6 million in 2021. Backlog increased to $13.1 million, and outlook for fiscal 2023 is optimistic with expected revenue growth. Despite ongoing supply chain challenges, management expressed confidence in future performance.

MIND Technology, Inc. (NASDAQ: MIND) will announce its fiscal 2022 fourth quarter and full year financial results on April 20, 2022, after market close. A conference call is scheduled for April 21, 2022, at 9:00 a.m. Eastern Time. The call can be accessed via phone or online. A replay will be available until April 28, 2022. MIND Technology specializes in advanced marine sonar and seismic equipment for various industries globally.

MIND Technology (NASDAQ: MIND) announced recent orders totaling approximately $7.3 million across its Seamap and Klein Marine Systems units, expected to be delivered within the fiscal year. The Seamap unit secured a $4.8 million order from HJ Shipbuilding & Construction for its GunLink 4000 and positioning systems for a seismic research vessel. The Klein unit has received $2.5 million in orders for multi-beam sonar systems, with additional quote requests amounting to $3.5 million. The company expresses optimism about future demand growth for its Marine Technology Products amidst an improving macroeconomic environment.

MIND Technology, Inc. announced a quarterly cash dividend of $0.5625 per share on its 9.00% Series A Cumulative Preferred Stock for Q1 of fiscal year ending January 31, 2023. This dividend covers the period from February 1, 2022 to April 30, 2022. The payment is scheduled for April 30, 2022, to shareholders on record as of April 15, 2022. The Series A Preferred Stock is traded under the ticker symbol MINDP on Nasdaq.

MIND Technology, Inc. (NASDAQ: MIND) announced the launch of its Spectral AI automatic target recognition (ATR) capability at the Oceanology International Conference in London on March 15, 2022. This technology will enhance the company's Klein Marine Systems side scan sonar systems, providing a competitive edge in the market. MIND's CTO, Andy Meecham, emphasized the growing importance of ATR for sensor system operators. The company plans to explore further ATR applications beyond its sonar systems in the future.

MIND Technology, Inc. (MIND) announced the passing of Board member Robert J. Albers on February 26, 2022, at the age of 78. Mr. Albers, who served on the Board since January 2008, was recognized for his extensive experience in the seismic industry, including significant roles at Sercel, Inc. and Halliburton. The company expressed gratitude for his contributions over 14 years. MIND Technology has initiated a search for a replacement to fill Mr. Albers' position, aiming to maintain its strategic leadership.

MIND Technology, Inc. has declared a cash dividend of $0.5625 per share on its 9.00% Series A Cumulative Preferred Stock for Q4 of the fiscal year ending January 31, 2022. This dividend applies to the period from November 1, 2021 to January 31, 2022, and is payable on January 31, 2022, to shareholders on record as of January 15, 2022. The Series A Preferred Stock trades under the ticker symbol MINDP.