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Stock impact report

Geospace Technologies Closes Ocean Bottom Node Purchase Contract With Estimated Value of $10.5 Million

Geospace Technologies Corporation (GEOS) 
Last geospace technologies corporation earnings: 5/4 05:01 pm Check Earnings Report
US:NASDAQ Investor Relations: geospace.com/investor-relations
Company Research Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Geospace Technologies Corporation (NASDAQ: GEOS) today announced the sale of OBX-750E seabed ocean bottom wireless seismic data acquisition nodes to SAExploration, an international marine geophysical services provider. Based on current contract terms, the value of the agreement is estimated at $10.5 million. SAExploration exercised an option in the Company’s rental agreement to purchase the OBX-750E nodes under this contract.“We appreciate SAE’s recognition of the long-term value provided through ownership of our robust shallow water ocean bottom nodes,” said Walter R. Wheeler, President and CEO, Geospace Technologies. “By exercising the purchase option in an existing rental contract, SAE gains the ability to cost effectively provide high quality data to their clients for years to come.”As a leading innovator and manufacturer of marine seismic systems, Geospace Technologies offers ocean-bottom wireless seismic data acquisition node systems, permanent rese Show less Read more
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