Dawson Geophysical Initiates Dividend Despite Q1 Loss
Dawson Geophysical is getting generous, just as it reports a shortfall in its latest quarter. Today the company released its fiscal Q1 2014 results, posting revenues of $68.2 million against $76.6 million the same quarter the previous year. The firm swung to a loss over that stretch of time, landing $2.9 million ($0.36 per share) in the red compared to a profit of just under $3 million ($0.36) for Q1 2013.
The company attributed the declines to "significantly reduced utilization rates for the first half of the quarter and severe cold and inclement weather conditions in many areas of the Company's operations" in the second half of the quarter.
On average, analysts were projecting a per-share profit of $0.09 on revenues of $66.7 million.
In spite of the bottom-line loss, Dawson Geophysical declared its first quarterly dividend. That payout is to be $0.08 per share, and will be distributed on Feb. 24 to shareholders of record as of the close of business on Feb. 14.
The article Dawson Geophysical Initiates Dividend Despite Q1 Loss originally appeared on Fool.com.Eric Volkman has no position in Dawson Geophysical. The Motley Fool recommends Dawson Geophysical. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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