Market Overview

Geospace Technologies Receives Order for Marine Nodal System from Seafloor Geophysical Solutions


Geospace Technologies Corporation (NASDAQ: GEOS) today announced that it
received an order from a subsidiary of Seafloor Geophysical Solutions
Holdings Ltd (“SGS”) for a marine data acquisition system comprised of
2,304 stations of the company's OBX deep water seafloor nodes and
related equipment. SGS is a newly organized marine geophysical
contractor with management located in Norway. The order value is $29.4
million, and delivery of the OBX system is currently scheduled to occur
late in the fiscal year 2014 second quarter ending March 31, 2014.

“SGS is pleased to place this order with Geospace Technologies. The long
life nodes are ideal for our data acquisition objectives and will be
used on our first crew starting operations in the second calendar

See full press release

Posted-In: News Guidance Financing Offerings Contracts Legal Global


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