Geospace Reports Q1 Earnings of $8.4 Million
HOUSTON--(BUSINESS WIRE)-- Geospace Technologies Corp. (GEOS) today announced its financial results for the fiscal first quarter ended March 31, 2023.
Financial Highlights:
* Net income: $8.4 million
* Earnings per share: $0.65
* Revenue: $37.2 million
The company attributed the improved financial performance to increased demand for its seismic instruments and equipment, primarily driven by the growing exploration and production activities in the energy sector.
Geospace is a leading provider of seismic equipment and services to the oil and gas industry. The company's products are used in a variety of applications, including exploration, production, and environmental monitoring.
Shares of GEOS closed at $12.50 on Wednesday, up 1.2% from the previous close.
For more information on Geospace Technologies Corp., visit the company's website at https://www.geospacetech.com.