Stock Report: Mitcham Industries Inc. (MIND) Report Updated: May 13, 2013 | Print This Page

Mitcham Industries, Inc., through its subsidiaries, engages in the leasing, sale, and service of geophysical and other equipment to the seismic industry worldwide. The company operates in two segments, Equipment Leasing and Seamap. The Equipment Leasing segment leases seismic equipment for short-term leasing primarily to seismic data acquisition contractors and oil field service providers. Its land equipment lease pool includes seismic recording land channels, geophones and cables, and other peripheral equipment; marine seismic equipment lease pool comprises streamers, air compressors, air guns, streamer positioning equipment, energy source controllers, and other equipment; and downhole equipment lease pool consist of downhole seismic tools. This segment is also involved in the sale of new seismic equipment of other manufacturers; heli-pickers and related equipment used in the deployment and retrieval of seismic equipment by helicopter; and equipment, consumables, systems integration, engineering hardware, and software maintenance support services to the seismic, hydrographic, oceanographic, environmental, and defense industries, as well as sells used equipment from its lease pool. The Seamap segment designs, manufactures, and sells a range of products for the marine seismic industry. Its products include GunLink seismic source acquisition and control systems, which are designed to provide operators of marine seismic surveys with precise control of energy sources; and BuoyLink RGPS tracking systems that are used to offer precise positioning of seismic sources and streamers. The company was founded in 1987 and is headquartered in Huntsville, Texas.