Mind Technology Inc Reports Positive Q1 Earnings Despite Missing Analyst Expectations

Mind Technology Inc Announces Quarterly Results for April Period

Mind Technology Inc reported breakeven results per share for the quarter ending in April, which was an improvement from the same quarter last year when the company reported negative earnings per share of -90 cents. Despite this positive development, the lone analyst forecast for the quarter was for earnings of 30 cents per share, highlighting a slight discrepancy between expectation and actual results.

Revenue for Mind Technology Inc fell by 23.1% to $9.68 million compared to the previous year, falling short of analysts’ expectations of $12.05 million. The company reported breakeven results in terms of EPS for the quarter, with quarterly net income amounting to $7,000.

Mind Technology Inc shares experienced a 13.9% increase in value for the quarter but were down by 21.2% year-to-date. The current average analyst rating on the shares is “hold,” with no “strong buy” or “buy” recommendations, one “hold,” and no “sell” or “strong sell” recommendations.

In terms of performance compared to estimates, the company missed expectations for both quarters ending in April 2024 and January 2024, with actual earnings per share lower than estimated figures. Previous quarters also saw a pattern of missed estimates, indicating challenges in meeting analyst forecasts.

This summary was generated from LSEG data on June 11 at 12:06 a.m. UTC

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