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GEOS Geospace Technologies

Geospace Technologies Corp. designs and manufactures instruments and equipment used in the oil and gas industry for acquisition and processing of seismic data. It operates through the following business segments: Oil &Gas Markets, Adjacent Markets and Emerging Markets. The Oil & Gas Markets segments products include wireless seismic data acquisition systems, reservoir characterization products and services, and traditional seismic exploration products such as geophones, hydrophones, leader wire, connectors, cables, marine streamer retrieval and steering devices and various other seismic products. The Adjacent Markets segment leverage upon existing manufacturing facilities and engineering capabilities. The Emerging Markets segment consists of recent acquisition of Quantum. The company was founded in 1980 and is headquartered in Houston, TX.

Company profile

Ticker
GEOS
Exchange
CEO
Walter Rick Wheeler
Employees
Incorporated
Location
Fiscal year end
Former names
OYO GEOSPACE CORP
SEC CIK
IRS number
760447780

GEOS stock data

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Calendar

4 Feb 21
13 Apr 21
30 Sep 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Sep 20 Sep 19 Sep 18 Sep 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 33.72M 33.72M 33.72M 33.72M 33.72M 33.72M
Cash burn (monthly) (positive/no burn) (positive/no burn) 486.33K 972.92K (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a 1.68M 3.35M n/a n/a
Cash remaining n/a n/a 32.04M 30.37M n/a n/a
Runway (months of cash) n/a n/a 65.9 31.2 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Feb 21 Kenneth Asbury Common Stock Grant Aquire A No No 0 5,000 0 8,030
4 Feb 21 Edgar R. JR. Giesinger Common Stock Grant Aquire A No No 0 5,000 0 13,600
4 Feb 21 Margaret Ashworth Common Stock Grant Aquire A No No 0 5,000 0 5,000
4 Feb 21 Richard F Miles Common Stock Grant Aquire A No No 0 5,000 0 23,600
4 Feb 21 Langtry Tina M Common Stock Grant Aquire A No No 0 5,000 0 17,475

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

55.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 52 67 -22.4%
Opened positions 15 5 +200.0%
Closed positions 30 14 +114.3%
Increased positions 7 23 -69.6%
Reduced positions 25 23 +8.7%
13F shares
Current Prev Q Change
Total value 65.75M 50.08M +31.3%
Total shares 7.56M 8.1M -6.8%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Disciplined Growth Investors 1.36M $11.61M +72.3%
FMR 1.34M $11.44M -0.0%
Dimensional Fund Advisors 753.82K $6.45M -2.3%
Vanguard 743.41K $6.36M -18.3%
Tieton Capital Management 632.89K $5.42M +37.2%
Rutabaga Capital Management 412.41K $3.53M 0.0%
Millennium Management 301.99K $2.59M NEW
BLK Blackrock 295.84K $2.53M -77.9%
Moors & Cabot 278.13K $2.39M +54.0%
THB Asset Management 195.19K $1.67M NEW
Largest transactions
Shares Bought/sold Change
BLK Blackrock 295.84K -1.05M -77.9%
Disciplined Growth Investors 1.36M +569.51K +72.3%
Millennium Management 301.99K +301.99K NEW
THB Asset Management 195.19K +195.19K NEW
Tieton Capital Management 632.89K +171.6K +37.2%
Vanguard 743.41K -166.94K -18.3%
STT State Street 14K -138.11K -90.8%
PFG Principal Financial Group Inc - Registered Shares 0 -97.74K EXIT
Moors & Cabot 278.13K +97.58K +54.0%
D. E. Shaw & Co. 89.55K +89.55K NEW

Financial report summary

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Management Discussion
  • Consolidated revenue for fiscal year 2020 was $87.8 million, a decrease of $8.0 million, or 8.3%, from fiscal year 2019.  While we experienced reduced demand for most of our product categories due to the factors cited above, the decrease was primarily caused by an $8.0 million charge to (or reduction of) revenue related to the impairment of an operating lease receivable resulting from the rental of our marine seismic equipment.  
  • Consolidated gross profit for fiscal year 2020 was $23.4 million, a decrease of $8.0 million, or 25.4%, from fiscal year 2019.  The decrease in gross profit was also primarily caused by the $8.0 million charge to (or reduction of) revenue related to the impairment of an operating lease receivable resulting from the rental of our marine seismic equipment.
  • Consolidated operating expenses for fiscal year 2020 were $41.5 million, an increase of $4.0 million, or 10.8%, from fiscal year 2019.  The increase in operating costs were primarily due to (i) a $3.2 million net non-cash increase in the estimated fair value of contingent earn-out consideration related to our Quantum and OptoSeis® acquisitions, (ii) $0.9 in personnel related termination costs associated with our workforce reduction, (iii) $0.4 million of incremental research and development costs associated with our acquisition of the OptoSeis® business in November 2018 and (iv) a $0.7 million goodwill impairment charge.  These increases in operating expenses were partially offset by a $0.4 million decrease in bad debt expense.
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