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Global Geophysical Reports Adjusted EPS Of $0.05

Stocks in this article: GGS

"In summary, our priorities remain unchanged: grow our backlog while transitioning the revenue mix, generate Free Cash Flow and reduce our debt. Our company remains well positioned to offer market leading services to our customers in support of these objectives," concluded White.

First Quarter Results

The following table sets forth our consolidated revenues for the three months ended March 31, 2013 and for the corresponding period of 2012 (amounts in millions):

  Three Month Period Ended
  March 31,
Revenues by Service (unaudited)
  2013 2012
  Amount % Amount %
Proprietary Services $ 27.4 33% $ 64.8 67%
Multi-client Services 56.0 67% 31.3 33%
Total $ 83.4 100% $ 96.1 100%
  Three Month Period Ended
  March 31,
Revenues by Area (unaudited)
  2013 2012
  Amount % Amount %
United States $ 67.2 81% $ 49.8 52%
International 16.2 19% 46.3 48%
Total  $ 83.4 100% $ 96.1 100%

We recorded revenues of $83.4 million for the three months ended March 31, 2013 compared to $96.1 million for the same period ended in 2012, a decrease of $12.7 million, or 13%.

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