GEOS - Geospace Technologies closes $10M seismic equipment sale to rental customer

Geospace Technologies (NASDAQ:GEOS) completes $10M sale of its OBX series of deepwater ocean bottom nodes to a international seismic contractor.  It comes after the rental customer exercised an option in the Geospace's rental agreement to purchase more than half of the nodes under this contract. “We’re pleased our valued customer took advantage of the opportunity to convert a portion of this rental contract to a sale,” said Walter R. Wheeler, President and CEO, Geospace Technologies. “Our company’s strengths lie in the design, manufacture and delivery of some of the world’s most robust marine seismic equipment."

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Geospace Technologies closes $10M seismic equipment sale to rental customer