Losses Widen at Dawson Geophysical Despite Higher Revenue
Weak crude oil prices have been the bane of the energy industry, having an impact on activity levels throughout the industry. Dawson Geophysical (NASDAQ: DWSN) has seen demand for its seismic services drop substantially from peak levels before oil's collapse, and even though the energy sector started to stabilize last year, customers weren't quick to ramp up their exploration efforts, holding Dawson back from sharing in the industry's partial recovery.
Coming into Thursday's second-quarter financial report, Dawson investors foresaw flat revenue but were hoping that the company would be able at least to narrow its net losses. Instead, the red ink got deeper for the seismic specialist. Yet Dawson is still optimistic about its long-term future once conditions in the industry return to something approaching normal. Let's take a closer look at Dawson Geophysical and how its latest numbers reflect the current state of the industry.
Image source: Dawson Geophysical.
Source: Fool.com
