This Day On The Street
Continue to site
ADVERTISEMENT
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

Geospace Technologies Reports Fiscal Year 2012 Results

“Similar to fiscal year 2011, our revenues for the fourth quarter of fiscal year 2012 were lower when compared to the previous quarters of the fiscal year. We attribute this sequential decline in revenues to our erratic order flow and the timing of shipments which is dictated by our customers. As we have often said, our business is lumpy as evidenced by our fourth quarter results for both fiscal year 2011 and 2012. However, revenues are expected to rebound in the first quarter of fiscal year 2013. We have already announced two orders totaling 34,000 channels of our wireless system which are expected to be delivered in the first quarter of fiscal year 2013. Both systems are expected to be initially deployed in Canada for use during the winter season. We believe there are several additional opportunities to receive orders for our wireless system before the end of the first quarter of fiscal year 2013. Regarding the $14.9 million seabed seismic reservoir monitoring system ordered by Shell Brasil Petróleo Ltda, we now expect to deliver this system in the second quarter of fiscal year 2013 due to unforeseen delays with certain contract vendors. However, we do plan to begin revenue recognition for the new Statoil contract in the first quarter of fiscal year 2013. Fiscal year 2013 is off to a great start.”

“We are very excited about the signing of the $160 million Statoil contract in November 2012. As we previously stated, we will recognize revenues and profits from this large contract over the next three fiscal years utilizing the percentage of completion method. Currently, we estimate that approximately 45%, 40% and 15% of the Statoil contract’s revenues will be recognized in fiscal years 2013, 2014 and 2015, respectively. Both the Shell and Statoil contracts for permanent subsea systems give us an unusual visibility not often seen in our other product segments.”

2 of 5

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SYM TRADE IT LAST %CHG
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%

Markets

Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs