Dawson Geophysical Narrows 1st Qtr Loss To $1.7 Million (DWSN)

Midland, Texas-based Dawson Geophysical Company DWSN released financial results. Dawson Geophysical Company announced that its 1st quarter net loss narrowed to $1.7 million, or 21 cents per share, compared to net loss of $4.2 million, or 54 cents per share, a year earlier. Dawson Geophysical Company reported revenue of $72.65 million, up from $36.33 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for a loss of 20 cents per share, on revenue of $60.05 million. President and CEO Stephen Jumper said, "The first quarter of fiscal 2011 results were remarkably improved from the same quarter of fiscal 2010. Increased exploration activity across oil and liquid-rich basins, combined with improving operational efficiencies and crew utilization rates drove much of our first quarter improvement." Dawson Geophysical Company (DWSN) finished the previous trading day at $33.59 per share. The consensus price target of analysts covering the company's stock is $34.00 per share. Dawson Geophysical Company is the leading provider of U.S. onshore seismic data acquisition services as measured by the number of active data acquisition crews. Read more from Benzinga's Company news.