Mitcham Industries (MIND) Swings To Profit

Mitcham Industries Inc MIND on Tuesday after the market closed released financial results that beat Wall Street expectations. Mitcham Industries Inc reported that it swung to a fiscal 1st quarter net income of $2.4 million, or 24 cents per share, from a net loss of $80,000, or 1 cent per share, a year earlier. Excluding special items, the company earned 11 cents per share. Revenue surged 56% to $16.5 million, up from $10.6 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 9 cents per share.