Mind Technology reports Q3 EPS 1c vs. $2.87 last year with items

Reports Q3 revenue $9.7M vs $12.1M last year. FY25 Q3 EPS was affected by the conversion of preferred stock into common stock. Reports backlog of Marine Technology Product orders related to our Seamap segment was approximately $7.2M as of October 31 compared to $12.8M at July 31. Rob Capps, MIND‘s President and CEO stated, “Our results for the Q3 were largely in line with our expectations. Although Seamap revenues moderated slightly from the second quarter, higher margin after-market activity was strong again this quarter and accounted for about 64% of our revenues in the first nine months of this fiscal year. This favorable after-market activity, along with our consistent execution, helped deliver another profitable quarter. Based on the anticipated delivery schedule of our backlog, recent and expected orders, we expect our Q4 to be improved from the Q3.”