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Winter warms Geokinetic earnings



By Upstream staff 

US seismic services group Geokinetics reported higher first quarter revenues and earnings, boosted by its acquisition of Grant Geophysical last year.

Geokinetics reported net first quarter earnings of $5.1 million, or 75 cents per common share, compared with net earnings of $2.3 million, or 39 cents per share, in the first quarter of 2006.

Revenues for the quarter rose 129% to $111 million.

The company said it also benefitted from a strong winter season in its Canadian operations and increased demand for its seismic services, as well as recent capital investments in increased capacity.


Thursday, 17 May, 2007, 19:59 GMT  | last updated: Thursday, 17 May, 2007, 19:59 GMT

Going to ground: seismic work in progress
 

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