Mitcham Industries Inc Up 6.14% To $0.61 After Earnings

Mind Technology Inc (MIND) missed earnings estimates for Q4 2023 this afternoon.

Mitcham Industries Inc reported EPS loss of $0.03 per share. Profits rose 93% year-over-year after reporting an EPS loss of $0.43 per share in its year-ago quarter. The positive growth rate signals that the Technology company is performing well amid recent economic conditions.

Mitcham Industries Inc reported a revenue of $12.4 million in Q4 2023. The firm managed 230% growth year-over-year due to Mitcham Industries Inc reporting quarterly revenue of $3.8 million in its year-ago quarter. Mitcham Industries Inc achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is up 6.14% to $0.61 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Trading in the five days leading up to the report earned Mitcham Industries Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 29.

MIND Technology Inc provides technology and solutions for exploration, survey, and defense applications in oceanographic, hydrographic, defense, seismic and security industries. Its Klein and Seamap units design, manufacture and sell specialized, high performance sonar and seismic equipment. Its only operating segment being Marine Technology Products. The company's geographical segments include United States; Europe, Russia & CIS; Middle East & Africa; Asia-Pacific; and Canada & Latin America.