Geospace Technologies Corporation (NASDAQ: GEOS) today announced the receipt of an order for its GCL wireless recording system from SAExploration, Inc., a wholly-owned subsidiary of SAExploration Holdings, Inc. (NASDAQ: SAEX; OTCQB: SXPLW). The order is for 30,000 single-channel recording stations and related equipment. Revenue on the order will be approximately $12.5 million and the company expects delivery of the system to occur in its second quarter ending March 31, 2020.
Walter R. (“Rick”) Wheeler, President and CEO of Geospace Technologies, said, “Our GCL represents the most advanced technology available in cable-free seismic recording systems, and we are very appreciative of the conscious choice made by SAExploration to incorporate this unique technology in their operations.”
About Geospace Technologies
Geospace principally designs and manufactures seismic instruments and equipment. We market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon producing reservoirs. We also market our seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment and offshore cables.
Forward Looking Statements
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