Dawson Geophysical (NASDAQ: DWSN) reported Q4 EPS of ($0.25), versus ($0.51) reported last year. Revenue for the quarter came in at $33.56 million versus the consensus estimate of $36.98 million.

Stephen C. Jumper, President and Chief Executive Officer, said, "Fourth quarter and year-end results for 2019 improved compared to 2018. While the Company reported a decrease in revenues for the year ended December 31, 2019, our net loss was substantially reduced, and EBITDA increased by more than 31% compared to the year ended December 31, 2018. Gross margins for the year ended 2019 improved by approximately 2% as a result of improved crew efficiencies, increased utilization of recording channels and energy sources, as well as continuing success with our cost control initiatives."

Jumper continued, "While fourth quarter 2019 results were below those of the Company's third quarter, our fourth quarter results showed significant improvement compared to the fourth quarter of 2018. Management believes that the Company\'s ability to successfully field large scale deployments is a contributing factor to Dawson Geophysical\'s success as the industry continues to transition toward a channel and energy source business model and away from the traditional crew count model. Despite this improvement, the Company\'s fourth quarter 2019 results were negatively impacted by the completion of several large projects early in the quarter, client delays that have moved the start of new projects into the first quarter of 2020, and lower utilization of recording channels and energy source units. Utilization was suppressed into the early part of the first quarter of 2020."

For earnings history and earnings-related data on Dawson Geophysical (DWSN) click here.