Mitcham Industries, Inc.
) finished a mixed day in the market with a gain of 3.9%, which
made it one of the top-performing Zacks #1 Rank companies. Volume
was north of 375,000 shares, compared to the daily average of
MIND is a geophysical equipment supplier that offers new and
"experienced" seismic equipment to the oil and gas industry,
seismic contractors, environmental agencies, government agencies
In early December, the company reported a solid fiscal
third-quarter performance that led to sharp gains in earnings
estimates. The Zacks Consensus Estimate for this fiscal year,
ending January 2012, has increased nearly 26% in 30 days to $1.76
As for next fiscal year, ending January 2013, the Zacks Consensus
Estimate of $2.34 per share has moved higher by 16.4% in the past
month. Analysts currently expect profit growth of around 33% for
next fiscal year over this fiscal year.
The quarterly report that sparked this upward momentum included
earnings per share of 52 cents, which bettered the Zacks Consensus
Estimate by a cool 100%. Total revenue advanced 40% to $28 million
from $20 million year over year.
MIND attributed the strong quarter to strong customer demand and
increased utilization in Latin America. The company also enjoyed
increased activity in the U.S. thanks to 3D imaging, along with
strong demand in certain international markets like the Pacific Rim
and North Africa.
MITCHAM INDS (
): Free Stock Analysis Report
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