This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

OYO Geospace Reports Fiscal Year 2010 Results

OYO Geospace (NASDAQ: OYOG) today announced net income of $14.1 million, or $2.27 per diluted share, on revenues of $128.5 million for its fiscal year ended September 30, 2010. This compares with a net income of $1.8 million, or $0.29 per diluted share, on revenues of $92.9 million for the prior fiscal year.

For the fourth quarter ended September 30, 2010, the company recorded sales of $36.1 million and net income of $5.1 million, or $0.82 per diluted share. For the comparable period last year the company recorded sales of $22.7 million and a net loss of $1.8 million, or $0.30 per diluted share.

Gary D. Owens, OYO Geospace’s Chairman, President and CEO, said, “Our fourth quarter revenues increased $13.4 million, or 59%, from last year’s fourth quarter. The majority of this revenue increase was due to higher demand for our seismic reservoir, seismic marine and industrial products. For the fourth quarter, sales to our seismic reservoir customers increased $6.3 million from the fourth quarter of last year, primarily resulting from resumed demand for borehole systems and the previously announced $4.0 million contract with BP for additional seabed cables in the Valhall field. Sales of our seismic marine products in the fourth quarter increased $3.6 million from the comparable period in the prior year primarily due to unusually low demand in the prior year. Fourth quarter revenues from our industrial customers increased $2.2 million from the comparable period in the prior year due to the sale of a borehole system and a small GSR wireless data acquisition system. These particular sales transactions are rather unusual since our industrial customers are not expected to utilize these systems for oil and gas exploration activities. Sales of our GSR wireless data acquisition systems to seismic exploration customers decreased slightly from the fourth quarter of last year.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs