Geospace Technologies Awarded $5.7M Sensor Contract

About this update from Geospace Technologies Corporation

HOUSTON --(BUSINESS WIRE)-- Geospace Technologies Corporation (NASDAQ: GEOS) today announced a $5.7 million contract with an international seismic contractor to deliver a significant number of specialized geophones designed for vibration monitoring in rugged environments. The geophones will be produced in the company’s manufacturing facilities with deliveries expected to begin in January 2024 . The specialized geophones will be used in the customer’s proprietary system for an advanced marine sensing application. “The quality of our geophone products has fostered long-term relationships with repeat customers as is the case here where our miniature, high-definition geophones are a critical component of a solution offered by a longtime customer,” said Walter R. Wheeler , President and CEO, Geospace Technologies . About Geospace Technologies Geospace principally designs and manufactures seismic instruments and equipment. We market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. We also market our seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment, offshore cables, remote shutoff water valves and Internet of Things (IoT) platform and provide contract manufacturing services. Learn more at www.geospace.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20230830494640/en/ Caroline Kempf , [email protected] , 321.341.9305 Source: Geospace Technologies Corporation

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