Mitcham Industries Reports Fiscal 2020 First Quarter Results

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Go back to Mitcham Industries Reports Fiscal 2020 First Quarter Results

Mitcham Industries (MIND) Misses Q1 EPS by 8c, Revenues Miss

June 5, 2019 4:19 PM EDT

Mitcham Industries (NASDAQ: MIND) reported Q1 EPS of ($0.27), $0.08 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $9.86 million versus the consensus estimate of $11.75 million.

Rob Capps, Mitcham's Co-Chief Executive Officer, stated, "We continue to see robust order activity from our Marine Technology Products segment as demonstrated by the 61% year-over-year increase in top-line growth this quarter. Perhaps more importantly, our backlog of firm orders grew to $11.0 million as of April 30, 2019 from $8.7 million at January 31, 2019, an increase of approximately 26%. Additionally, we have received approximately $5.1 million in bookings subsequent to April 30.... More