MIND Technology reports Q1 cont ops EPS 0c vs. (76c) last year

Reports Q1 revenue $9.7M vs. $10.6M last year. Rob Capps, MIND‘s President and CEO, stated, “We are pleased to report solid results for our fiscal first quarter. We are particularly encouraged by the improved operating margins. I think this is a result of our cost containment measures and improved production efficiencies. Our backlog remains strong, over 70% above the year ago amount, and we have a number of customer engagements that we expect to lead to further orders. With our strong backlog, improved cost structure, current visibility, and favorable macroeconomic tailwinds, we expect another profitable fiscal year for MIND with increased revenue and Adjusted EBITDA as compared to fiscal 2024. As expected, we saw increased working capital requirements in the first quarter, which utilized some of our existing liquidity. Managing our liquidity and increased working capital requirements remain a focus for us,” concluded Capps.