Geospace Technologies Corporation (NASDAQ:GEOS) Q4 2019 Earnings Conference Call - Final Transcript

Nov 22, 2019 • 10:00 am ET

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Geospace Technologies Corporation (NASDAQ:GEOS) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Executive
Rick Wheeler

reservoir seismic product categories.

In contrast, revenue from our wireless seismic products continues to strengthen, driven by an expanding list of rental contracts and global projects utilizing our ocean bottom OBX nodal systems. And although demand for our wireless GSX land products has diminished in recent years due to reduced onshore seismic exploration, the recent orders of our GCL land wireless systems give us confidence that our advanced new technology offers the best shows and value to our customers in this very difficult market.

We're also encouraged by our ongoing discussions with oil and gas companies regarding the deployment of PRM systems. Many of these plans call for timelines of two to three years and could be postponed even further depending on future capital spending budgets. However, the long-term value of PRM systems is well established and we are glad that such dialogs our reestablished and moving forward.

Meanwhile, we will continue pursuing our diversification strategies by expanding the product lines within our adjacent market segment and readying our border and Perimeter Security solutions developed through out integration of Quantum. This concludes our prepared remarks and I'll now turn the call back over to Katherine for questions.