Dawson Geophysical (DWSN) Reports a Q3 Loss
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Dawson Geophysical Company (Nasdaq: DWSN) reports a Q3 loss of $0.21 vs. consensus for $0.40 profit. Revenues were $52.32 million vs. $58.16 million consensus.
Stephen Jumper, President and CEO of Dawson Geophysical Company said, "Despite today's challenging environment, we remain optimistic regarding the industry's long-term fundamentals. In recent months we have seen an increase in demand for our services in many of the oil producing basins as well as continued demand in the large natural gas producing shale basins. Today, approximately 30 percent of our active crews are working in oil producing regions. Although our clients may cancel their service contract on short notice, our current order book reflects commitment levels sufficient to maintain operation of our ten crews into fiscal 2010."
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