Global Geophysical Services trades in the stock market under the ticker symbol of GGS. Search for the ticker of any public company above using the 'Get Ticker' search in red.

Who is Global Geophysical Services?

Global Geophysical Services, Inc., together with its subsidiaries, provides an integrated suite of seismic data solutions to the oil and gas industry worldwide. Its seismic data solutions primarily include seismic data acquisition, microseismic monitoring, data processing, and interpretation services, which deliver data that enable the creation of high resolution images of the earth's subsurface, and reveal complex structural and stratigraphic details. The company offers seismic data acquisition for land, transition zone, and shallow marine areas, including marshes, forests, jungles, arctic climates, mountains, and deserts. It serves national oil companies, integrated oil and gas companies, and independent oil and gas exploration and production companies. Global Geophysical Services, Inc. was founded in 2003 and headquartered in Missouri City, Texas.

Last $3.68 USD
Change Today +0.07 / 1.94%
Volume 38.2K
As of 1:54 PM 06/6/13 All times are local (Market data is delayed by at least 15 minutes).

global geophysical services (GGS) Snapshot

Open
$3.66
Previous Close
$3.61
Day High
$3.75
Day Low
$3.58
52 Week High
06/7/12 - $7.52
52 Week Low
04/22/13 - $1.86
Market Cap
139.7M
Average Volume 10 Days
265.3K
EPS TTM
$-0.24
Shares Outstanding
38.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
GGS:US Historical Stock Quote
GGS:US Advanced Stock Chart

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global geophysical services (GGS) Key Developments

Global Geophysical Services, Inc. Presents at Barclay's High Yield Bond and Syndicated Loan Conference, May-22-2013 09:30 AM

Global Geophysical Services, Inc. Presents at Barclay's High Yield Bond and Syndicated Loan Conference, May-22-2013 09:30 AM. Venue: JW Marriott Chicago, 151 W. Adams Street, Chicago, Illinois, United States. Speakers: Matthew Vargese, SVP & CFO.

Global Geophysical Services, Inc. Enters into Amendment No. 4 to the Credit Agreement with Bank of America, N.A

On April 30, 2010, Global Geophysical Services, Inc. entered into a revolving credit facility under the terms of a credit agreement, as supplemented by those certain amendment No. 1, amendment No. 2 and amendment No. 3 with Bank of America, N.A., as administrative agent, Swing Line Lender and L/C Issuer, and each lender from time to time party thereto. The revolving credit facility initially provided for borrowings of up to USD 50,000,000. Amendment No. 1 increased the maximum borrowing to USD 70,000,000. Amendment No. 2 addressed matters other than the maximum permitted borrowings. Amendment No. 3 increased the maximum borrowing to USD 85,000,000 until the initial maturity date of April 30, 2013, at which point the amount of the maximum permitted borrowings goes to USD 67,500,000 and the maturity date of the revolving credit facility is extended to April 30, 2014. On April 24, 2013, the company entered into amendment No. 4 to the credit agreement, with BANK OF AMERICA, N.A., as administrative agent, Swing Line Lender and L/C Issuer, CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as syndication agent and a lender, BARCLAYS BANK PLC, and CITIBANK, N.A. The borrower has requested and certain of the Lenders have agreed to assume a portion of certain expiring commitments and extend such lenders' respective commitments and/or the expiration thereof on the terms and conditions set forth in amendment No. 4. Under amendment No. 4, the amount of the maximum permitted borrowings under the credit agreement was reduced to USD 80,000,000 until the initial maturity date of September 30, 2013, at which point the amount of the maximum permitted borrowings goes to USD 67,500,000 through the maturity date of the revolving credit facility of April 30, 2014.

Global Geophysical Services, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Provides Tax Rate Guidance for the Year of 2013

Global Geophysical Services, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $83,409,000 compared to $96,111,000 a year ago. Loss from operations was $5,001,000 compared to income from operations of $19,876,000 a year ago. Loss before income taxes was $13,237,000 compared to income before income taxes of $12,469,000 a year ago. Net loss attributable to common shareholders was $11,542,000 or $0.31 basic and diluted per share compared to net income attributable to common shareholders of $6,930,000 or $0.19 basic and diluted per share a year ago. Net cash provided by operating activities was $45,800,000 compared to $38,927,000 a year ago. Purchase of property and equipment was $4,183,000 compared to $9,698,000 a year ago. Purchase of intangibles was $1,455,000 compared to $2,547,000 a year ago. LBIT was $11,542,000 or $0.31 per share compared to EBIT of $19,584,000 or $0.53 per share a year ago. EBITDA was $50,824,000 or $1.35 per share compared to $49,802,000 or $1.34 per share a year ago. Cash EBITDA was $24,821,000 or $0.66 per share compared to $11,624,000 or $0.31 per share a year ago. The company generated free cash flow of $16.7 million and reduced net debt from $318.8 million as of December 31, 2012 to $302.4 million as of March 31, 2013. The company generated free cash flow of $16.7 million in the quarter and $4.2 million of CapEx in the quarter. Based on projections for 2013, the company have computed an effective tax rate of 23%. The company believes the remaining spend for the balance of the year to be under $10 million in line with previously guided range.

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GGS Competitors

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Company Last Change
Dawson Geophysical Co $36.98 USD -0.55
Pulse Seismic Inc C$3.72 CAD 0.00
Tesla Exploration Ltd C$2.93 CAD -0.07
TGC Industries Inc $8.35 USD 0.00
TGS Nopec Geophysical Co ASA 190.60 NOK -2.20

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Valuation GGS Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.4x
Price/Book 1.4x
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
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GGS Shareholder Alert - Securities Law Firm Tripp Levy PLLC Investigates Allegations Of Potential Accounting Fraud Against Global Geophysical Services
[PR Newswire] - NEW YORK, March 18, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, announces that it is investigating possible violations of federal securities laws by officers and directors of Global Geophysical Services, Inc. On March 17, 2014, GGS announced that its financial statements and related auditors' reports for the fiscal years ended December 31, 2012, 2011, 2010, and 2009, and the first, second and third quarters of 2013 should no longer be relied upon because of accounting errors resulting from material weaknesses in the Company's internal controls. GGS further announced that it would conduct a thorough review of its financial statements from the foregoing years, and restate its consolidated financial statements from 2011 onward, as well as selected financial data for the 2009 and 2010 fiscal years in its 2013 Annual Report on Form 10-K (2013 Annual Report). As a result of these financial reporting issues, GGS indicated that it will not timely file its 2013 Annual Report.
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Global Geophysical downgraded to Market Perform from Outperform at Barrington
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Block & Leviton LLP Investigates Global Geophysical Services, Inc. for Possible Violations of the Federal Securities Laws
[PR Newswire] - BOSTON, March 19, 2014 /PRNewswire/ -- Shares in Global Geophysical Services, Inc. ("Global" or the "Company") (GGS) fell by 60 percent after the provider of seismic data to energy companies announced that its financial statements for each of its fiscal years dating back to 2009, plus the first three quarters of 2013 "should no longer be relied upon because of accounting errors resulting from material weaknesses in the company's internal controls." Global has also indicated that its restatement for the fiscal year 2011 would result in a decrease in revenue of $4.8 million. As such, the Company's restated revenues could exacerbate liquidity issues for Global, as the Company currently is servicing $330.2 million in debt compared to total available liquidity of $16.8 million. The Company has reported that it is currently reviewing financial and strategic alternatives with its advisors, Evercore Group and Alvarez & Marsal North America. Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating whether the Company and certain of its officers and directors have violated the federal securities law in connection with their accounting practices and internal controls.
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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Global Geophysical Services, Inc. - GGS
[PR Newswire] - NEW YORK, March 19, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Global Geophysical Services, Inc. ("Global Geophysical" or the "Company") (GGS) (CUSIP:37946S107). Investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. The investigation concerns whether Global Geophysical and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On March 17, 2014, the Company announced in a press release, that its financial statements and related auditors' reports for the fiscal years ended December 31, 2012, 2011, 2010, and 2009, and the first, second and third quarters of 2013 should no longer be relied upon because of accounting errors resulting from material weaknesses in the Company's internal controls.
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Faruqi & Faruqi, LLP Announces Investigation of Global Geophysical Services, Inc.
[PR Newswire] - NEW YORK, March 19, 2014 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud claims on behalf of investors of Global Geophysical Services, ...
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SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Securities Fraud Violations by the Board of Directors of Global Geophysical Services, Inc.
[Business Wire] - Levi & Korsinsky, LLP is investigating Global Geophysical Services, Inc. in connection with possible violations of federal securities laws.
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EQUITY ALERT: The Rosen Law Firm Files Securities Class Action Against Global Geophysical Services, Inc. – GGS
[Business Wire] - The Rosen Law Firm announces that it has filed a class action against Global Geophysical Services, Inc. on behalf of purchasers of the Company’s common stock during the period from April 21, 2010 through March 18, 2014, and also on behalf of purchasers of the Company’s Series A preferred stock from December 3, 2013 through March 18, 2014.
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Global Geophysical Services -- Moody's downgrades Global Geophysical's CFR to Caa2; outlook remains negative
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INVESTOR ALERT: Class Action Lawsuit Against Global Geophysical Services, Inc. Announced by Law Offices of Howard G. Smith
[Business Wire] - Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Texas on behalf of all purchasers of the securities of Global Geophysical Services, Inc.
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Global Geophysical Services, Inc. Files Voluntary Chapter 11 Petitions to Facilitate Financial Restructuring
[at noodls] - Group of Bondholders Committed to Provide up to $60 Million in DIP Financing, Subject to Court Approvals Company's Non-U.S. Entities Not Included in Filing HOUSTON, March 25, 2014 (GLOBE NEWSWIRE) -- Global ...
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