Dawson Geophysical Company (NASDAQ:DWSN) Q4 2018 Earnings Conference Call Transcript

Feb 28, 2019 • 10:00 am ET

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Dawson Geophysical Company (NASDAQ:DWSN) Q4 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Greetings. Welcome to Dawson Geophysical Fourth Quarter 2018 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) Please note this conference is being recorded.

Statements made by management during this call with respect to forecasts, estimates or other expectations regarding future events or which provide any information other than historical facts, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control, that may cause the Company's actual future results or performance to materially differ from any results of performance expressed or implied by those statements. These risks and uncertainties include the risk factors, disclosed by Company from time to time in its filings with the SEC, including in the Company's Annual Report on Form 10-K filed with the SEC on March 9th, 2018.

Furthermore, as we start this call please also refer to the statement regarding forward-looking statements incorporated in the Company's press release issued this morning and please note that the contents of this Company's conference call this morning is covered by those statements.

During this conference call management will make references to EBITDA, which is non-GAAP financial measure, a reconciliation of the non-GAAP measure to the applicable GAAP measure can be found in the Company's current earnings release, a copy of which is located on the Company's website www.dawson3d.com. The call is scheduled for 30 minutes and the Company will not provide any guidance.

I would now like to turn the call over to Stephen Jumper, Chairman, President and CEO of Dawson Geophysical Company. Please go ahead, sir.

Executive
Stephen C. Jumper

Thank you, Doug. Good morning, and welcome to Dawson Geophysical Company's fourth quarter 2018 earnings and operations update conference call. As Doug said, my name is Steve Jumper, Chairman, President and CEO of the Company. And joining me on the call is Jim Brata, Executive Vice President and Chief Financial Officer.

Just to restate a little bit about what Doug said before we start the call, we have few items we need to cover. If you want to listen to a replay of today's call, it will be available via webcast by going to the Investor Relations section of the Company's website at www.dawson3d.com. Information reported on this call speaks only of today, Thursday, February 28th 2019, and therefore, you are advised that time sensitive information may no longer be accurate as of time of any replay listening.

So turning to our preliminary fourth quarter and 12 months ended December 31, 2018 financial results; for the fourth quarter ended 12/31/18, the Company reported revenues of $27.7 million, a decrease of approximately 26% compared to $37.4 million for the quarter ended 12/31/17. For the fourth quarter of '18, the Company reported a net loss of $11.8 million or $0.51 loss per common