This Day On The Street
Continue to site
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

OYO Geospace Reports Fiscal Year 2011 Second Quarter Results

OYO Geospace (NASDAQ: OYOG) today announced net income of $8.7 million, or $1.38 per diluted share, on revenues of $50.7 million for its quarter ended March 31, 2011. This compares with a net income of $2.8 million, or $0.45 per diluted share, on revenues of $30.8 million in the comparable quarter last year.

For the six months ended March 31, 2011, OYO Geospace recorded sales of $93.8 million and net income of $16.9 million, or $2.70 per diluted share. For the comparable period last year the company recorded sales of $57.1 million and net income of $3.9 million, or $0.63 per diluted share.

“We are very pleased with our second quarter financial performance, establishing new records for both revenues and profits. During the second quarter we experienced strong demand for most of our seismic product lines, with exceptional demand for our marine and reservoir products. In each case, revenues from these products significantly outpaced our sequential first quarter revenues as well as our prior year second quarter revenues. In addition, sales and rentals of our GSR wireless data acquisition system significantly outperformed the comparable quarter of last year, and sequentially were in line with our revenues in the first quarter,” said Gary D. Owens, OYO Geospace’s Chairman, President and CEO.

“We are especially pleased with the pace of acceptance of the GSR. During the second quarter, we sold over 13,000 channels bringing our customer-owned GSR channel count to over 62,000. In addition, we delivered another 15,000 rental channels during the second quarter bringing our total rental fleet to more than 24,000 GSR channels. We now have 18 customers utilizing the GSR system around the world for their seismic data acquisition needs.

“Our customers are reporting increasing demand for their seismic services which translates into higher equipment demand. Quoting activities and opportunities are high for all products. We continue to receive numerous GSR inquiries and requests for demonstrations around the world as customers seek to take advantage of wireless technology. We are especially proud of our workforce and their dedication and commitment to meet increased output quotas during these periods of high product demand. Our workforce now exceeds 1,000 employees, and has increased 14% since the beginning of the fiscal year.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs