Watch List Stock News: MITCHAM INDUSTR/SH (NASDAQ: MIND)

On 04 Oct 2019, MITCHAM INDUSTR/SH (NASDAQ: MIND) started its trading session with the price $3.02 and closed at price of $2.8 by scoring -6.67%. Day range of the stock was $2.63 – $3.06. MIND stock traded with total volume of 108832 shares while the average trading capacity remained 30495 shares.  Earnings per share was $-1.38. MIND has total market capitalization of $33959519.

Mitcham Industries, Inc. (MIND) (“Mitcham” or “the Company”) recently reported financial results for its fiscal 2020 second quarter ended July 31, 2019.

FISCAL 2020 SECOND QUARTER RESULTS
Total revenues for the second quarter of fiscal 2020 increased contrast to last year’s second quarter to $8.9M, driven by higher marine technology products sales. Marine technology products section sales increased to $6.7M in the second quarter of fiscal 2020 contrast to $6.0M in last year’s second quarter.  Seamap sales increased 29% from the previous year period to $4.9M, and Klein sales increased 16% contrast to the same period last year to $1.8M. Included in last year’s second quarter sales was a $797,000 contribution from SAP, which was sold in the first quarter of fiscal 2020 and therefore, not included in the recent quarterly results.

Total Equipment leasing revenues were $2.2M in the second quarter of fiscal 2020 contrast to $2.5M in the same period last year.  Equipment leasing revenues, not including equipment sales, were $1.4M, a decrease of 16% contrast to the same period last year.  Lease pool equipment sales were $455,000 in the second quarter of fiscal 2020 contrast to $718,000 in the second quarter a year ago. Other equipment sales were $347,000 in the second quarter of fiscal 2019 contrast to $125,000 in the second quarter a year ago.

Lease pool depreciation expense in the second quarter of fiscal 2020 reduced 53% to $1.1M from $2.4M in the same period a year ago Because of lease pool sales and minimal purchase of lease pool equipment in recent periods.

Selling, general and administrative expenses were $4.8M in the second quarter of fiscal 2020 contrast to $5.5M in the second quarter of fiscal 2019 and $5.2M in the first quarter of fiscal 2019.  As a percentage of revenues, SG&A expenses in the second quarter of 2020 reduced to 54% from 66% in last year’s second quarter.

The volatility in the previous week has experienced by 8.40% and observed of 6.58% in the previous month. 80.80% ownership is held by institutional investors while insiders hold ownership of 4.80%. In the trailing 12 months period, return on assets ratio of the Company was -25.70% and return on equity ratio was -30.10% while its return on investment ratio was -32.90%.

 

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