Geospace Technologies Reports Fiscal Year 2015 Results
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Geospace Technologies (GEOS) Post Wider Than Expected Q4 Loss
November 18, 2015 6:02 PM ESTGeospace Technologies (NASDAQ: GEOS) reported Q4 EPS of ($1.03), $0.46 worse than the analyst estimate of ($0.57). Revenue for the quarter came in at $16 million versus the consensus estimate of $20.53 million.
Walter R. (Rick) Wheeler, Geospace Technologies President and CEO said, Our 2015 fiscal year has represented perhaps the most challenging year in our companys history. As market conditions continually worsened throughout the year, our fourth quarter experienced accelerated weakness in demand for our seismic products. Compared to fiscal year 2014, fourth quarter revenue fell by 39%, and our full fiscal year revenue declined 64% from last year. Net losses... More
