Mitcham Industries, Inc. (NASDAQ:MIND) shares soared as much as 11.50% in extended session on Tuesday after the company reported 37% growth in its topline for the fiscal 2011 third quarter.
For the quarter ended, October 31, 2010. The company said that its net income fell to $0.7 million, or 7 cents a share, from $1.0 million, or 10 cents a share in a year ago quarter.
Revenue during the quarter grew 37% to $20.0 million from $14.5 million in the corresponding quarter of last year.
The company, which generates majority of its revenue from international sources reported that 80% of its revenue came from outside the United States, compared to 63% of revenues during the third quarter of fiscal 2010.
The company is scheduled a conference call for Wednesday, December 8, 2010 at 9:00 a.m. Eastern Time to discuss its fiscal 2011 third quarter results.
Mitcham Industries, Inc. (MII) is engaged directly and through its wholly owned subsidiaries in the leasing of seismic equipment to the oil and gas industry globally. It is also engaged in the sale of new and used seismic equipment and in the design, manufacture and sale of marine seismic equipment.
Article published by Wall Street Grand. Visit the Wall Street Grand Club today. For our full disclosure please visit - http://www.wallstreetgrand.com/disclosure.html
