Reuters: Global Markets: Mitcham Industries' results miss Street, shares fall

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Mitcham Industries' results miss Street, shares fall Jun 5th 2012, 22:32 Tue Jun 5, 2012 6:32pm EDT (Reuters) - Mitcham Industries Inc (MIND.O), which leases and sells seismic equipment to the oil and gas industry, reported quarterly results below analysts' estimates for the second straight quarter, hurt by delayed deliveries. Mitcham said first-quarter sales were also impacted by heavy rains in Colombia. The company posted net income of $8.5 million, or 63 cents per share, well below the 83 cents per share analysts were expecting. It had a profit of $6.1 million, or 58 cents per share, in the year-ago quarter. Revenue rose 31 percent to $34.6 million, but missed analysts' estimate of $38.2 million, according to Thomson Reuters I/B/E/S. Shares of the Huntsville, Texas-based company, which have fallen about 17 percent in last three months, dipped 9 percent in aftermarket trade on Tuesday. They had closed at $18.31 on the Nasdaq.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions