Dawson Geophysical announces Q3 earnings per share of 4 cents compared to a loss of 18 cents last year.
Reports Q3 revenue $14.9M vs. $4.7M last year. greater thanCEO Tony Clark commented, "We received our first delivery of our new single node channels in mid-August and immediately deployed the new equipment on a small channel crew with promising results. Due to the high demand from our customers for this equipment, we have accelerated our delivery timeline and received two additional equipment deliveries, at the end of September and October. We expect that the increase in our channel count will allow us to continue to improve our top-line results as we continue to utilize our legacy equipment and deploy our new equipment. Currently we have over 180,000 channels of legacy and new equipment available to service the industry, and we are increasing our efforts on passive seismic monitoring with positive activity. Our Canadian segment acquired several passive monitoring surveys in the third quarter while preparing for a robust winter season. We are incorporating the new single node channels in this market, with positive feedback from our customers. Overall, we saw the potential that this new equipment can have in terms of our competitive position in the market, and our financial results. We expect to capitalize on that potential with our first large channel crew deployment of the single node channels in Q4."
