Global Geophysical Services Inc. (GGS) reported that its fourth-quarter net loss attributable to common shareholders was $28.61 million or $0.76 per share, compared to profit of $1.40 million or $0.04 per share in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.
Results for the latest-quarter included several non-recurring charges. These non-recurring charges include an income tax expense charge of $14.3 million related to foreign tax credits and $1.7 million in crew shutdown costs. The quarter results also included the provision of $3.0 million bad debt expense.
Revenues for the quarter declined to $55.29 million from $113.09 million in the prior year quarter. Two analysts had consensus revenue estimate of $95.94 million for the quarter.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.