Q2-17 Highlights:
- Revenues of $46.0 million, a 27% increase over second quarter 2016
- Net loss of $10.4 million, or $(0.88) per share, compared to a net loss of $25.3 million, or $(2.22) per share, or an adjusted net loss of $21.2 million, or $(1.85) per share in second quarter 2016
- Operating margin improvement to (8)%, compared to (46)% in second quarter 2016
- Adjusted EBITDA of $13.6 million, compared to $(3.3) million in second quarter 2016
- Net cash inflows from operations of $1.7 million, compared to $(14.8) million in second quarter 2016
- Significant increase in backlog of multi-client new venture programs, and when combined with Imaging Services, resulted in $48 million of backlog at June 30th, compared to $25 million sequentially and $30 million one year ago
Year-to-Date Highlights:
- Revenues of $78.6 million, a 34% increase over first half of 2016
- Net loss of $33.8 million, or $(2.85) per share, compared to a net loss of $60.4 million, or $(5.48) per share in the first half of 2016
- Adjusted net loss of $28.8 million, or $(2.43) per share, compared to an adjusted net loss of $56.2 million, or $(5.10)per share in the first half of 2016
- Adjusted EBITDA of $13.6 million, compared to $(20.5) million in the first half of 2016
- Net cash inflows from operations of $3.6 million, compared to $(12.3) million in the first half of 2016