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Last $4.66 USD
Change Today -0.13 / -2.71%
Volume 55.0K
As of 8:10 PM 07/7/15 All times are local (Market data is delayed by at least 15 minutes).

dawson geophysical co (DWSN) Snapshot

Open
$4.75
Previous Close
$4.79
Day High
$4.75
Day Low
$4.53
52 Week High
07/28/14 - $16.50
52 Week Low
04/1/15 - $4.22
Market Cap
100.4M
Average Volume 10 Days
76.2K
EPS TTM
$-2.12
Shares Outstanding
21.5M
EX-Date
12/13/12
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for DAWSON GEOPHYSICAL CO (DWSN)

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dawson geophysical co (DWSN) Details

Dawson Geophysical Company provides seismic data acquisition services; and sells gravity data in the continental United States and Canada. It operates seismic crews that supply seismic data primarily to companies engaged in the exploration and development of oil and natural gas on land and in land-to-water transition areas. The company also serves the potash mining industry. As of December 31, 2014, it operated eight seismic crews consisting of three crews in the United States and five crews in Canada. Dawson Geophysical Company was founded in 1952 and is headquartered in Midland, Texas.

dawson geophysical co (DWSN) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $466.5K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $260.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $316.6K
Executive Vice Chairman
Total Annual Compensation: $525.0K
Senior Vice President
Total Annual Compensation: $258.0K
Compensation as of Fiscal Year 2014.

dawson geophysical co (DWSN) Key Developments

Dawson Geophysical Company Enters into an Amendment to the amended and restated loan and security agreement

On June 30, 2015, Dawson Geophysical Company entered into an amendment to the amended and restated loan and security agreement (as amended, the amended loan agreement) for the purpose of renewing, extending and increasing the company’s line of credit with its lender, Sovereign Bank, a Texas state bank. The Amended loan agreement provides for a revolving credit facility (the revolving credit facility) in an amount up to the lesser of (i) $20,000,000 or (ii) 80% of the company’s eligible accounts receivable (less the outstanding principal balance of the New Term Loan described below). The revolving credit facility matures on June 30, 2017. Indebtedness under the Revolving Credit Facility bears interest at a rate equal to the lesser of four and one-half (4.5%) and the prime rate (as quoted in the Wall Street Journal), subject to an interest rate floor of two and one-half (2.5%). As collateral for indebtedness under the revolving credit facility, the company has granted Sovereign Bank a security interest covering all of the company’s accounts receivable. As of June 30, 2015, the Company has not borrowed any amounts under the Revolving Credit Facility. The amended loan agreement continues to also provide for a term loan feature, and the company continues to have three outstanding notes payable (the legacy term loans) under the term loan feature, representing a remaining aggregate principal amount of $7,789,000 as of June 30, 2015. The Legacy Term Loans bear interest at rates between 3.5% and 4.5%, have maturity dates in October 2015, January 2017 and September 2017 and are secured by certain of the company’s core equipment (as described in an exhibit to the Amended Loan Agreement). Pursuant to the amendment entered into on June 30, 2015, the term loan feature of the amended loan agreement provides for a new term loan evidenced by a promissory note in the principal amount of $5,143,601.36 (the New Term Loan and, together with the Legacy Term Loans, the Term Loans), the proceeds of which were used by the company to fund the repayment of all obligations outstanding under the company’s credit facilities with Frost Bank, which description is incorporated herein by reference. The New Term Loan matures on December 30, 2016, bears interest at a rate of 3.5% and is secured by certain of the Company’s core equipment (as described in an exhibit to the Amended Loan Agreement). The aggregate principal amount of all Term Loans was $12,932,000 as of June 30, 2015.

Dawson Geophysical Company Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-23-2015 03:30 PM

Dawson Geophysical Company Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-23-2015 03:30 PM. Venue: JW Marriott Hotel, 151 W. Adams Street, Chicago, Illinois, United States. Speakers: Stephen C. Jumper, Chairman, Chief Executive Officer and President.

Dawson Geophysical Company Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Capital Budget Guidance for the Year 2015

Dawson Geophysical Company announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter ended March 31, 2015, the company reported revenues of $73,722,000 against $76,766,000 a year ago. Loss from operations was $9,814,000 against income from operation of $2,822,000 a year ago. Loss before income tax was $9,905,000 against income before income tax of $2,339,000 a year ago. Net loss was $6,592,000 against net income of $1,652,000 a year ago. Basic and diluted loss per share attributable to common stock was $0.37 against basic and diluted income per share attributable to common stock of $0.12 a year ago. Net cash used in operating activities was $3,262,000 against net cash provided by operating activities of $23,350,000 a year ago. EBITDA was $1,441,000 against $12,656,000 a year ago. Revenues for the March 2015 quarter were negatively impacted by reduced client demand due to decreasing and uncertain commodity prices, client-directed project delays, severe weather conditions in many areas of operation, a weaker than anticipated Canadian season and reduced utilization rates of deployed data acquisition crews in the lower 48 United States. The company's capital budget for 2015 is anticipated at maintenance levels below the $10 million capital budget approved by the board of directors. Strategic investments in seismic equipment during the past three years are partially responsible for the lower 2015 capital budget. The company's balance sheet remains strong at March 31, 2015 with approximately $48,100,000 of cash and cash equivalents and short-term investments, $77,276,000 of working capital and $19,171,000 of debt and capital lease obligations.

 

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