Mitcham Industries falls after missing Wall Street’s Q1 revenue view
Mitcham Industries, Inc. (Nasdaq:MIND) shares are slipping 11% after the leaser of seismic equipment to the oil and gas industry posted first-quarter revenue of $18.5 million, which missed Wall Street’s expectation of $19.7 million. During the year-ago quarter, Mitcham’s revenue totaled $23 million.
The firm’s quarterly profit rose to $4.3 million, or $0.41 per share, versus $3.9 million, or $0.39 per share, a year earlier. Wall Street analysts anticipated earnings of $0.38 per share.
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