Global Geophysical Services Inc (GGS) financial statements (2022 and earlier)
Company profile
| Business Address |
13927 SOUTH GESSNER MISSOURI CITY, TX 77489 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| SIC | 1382 - Oil and Gas Field Exploration Services (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in thousands)
| 9/30/2014 Q3 | 6/30/2014 Q2 | 3/31/2014 Q1 | 12/31/2013 Q4 | 9/30/2013 Q3 | 6/30/2013 Q2 | 3/31/2013 Q1 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 21,088 | 37,079 | 31,438 | 18,900 | 16,774 | 10,681 | 32,332 | ||
| Cash and cash equivalents | 21,088 | 37,079 | 31,438 | 18,900 | 16,774 | 10,681 | 32,332 | ||
| Receivables | 74,726 | 88,350 | 66,453 | 81,860 | 67,760 | 69,026 | 73,626 | ||
| Inventory, net of allowances, customer advances and progress billings | 107 | 107 | 107 | 107 | ✕ | 5,025 | 11,219 | ||
| Inventory | 107 | 107 | 107 | 107 | 5,025 | 11,219 | |||
| Prepaid expense | 5,632 | 4,594 | 4,036 | 3,227 | 2,199 | 3,798 | |||
| Prepaid expense and other current assets | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 506 | ||
| Assets held-for-sale | ✕ | ✕ | ✕ | 4,268 | |||||
| Income taxes receivable | ✕ | ✕ | ✕ | 386 | 815 | 1,472 | |||
| Deferred tax assets | 12,673 | 12,673 | |||||||
| Other undisclosed current assets | (10,243) | (20,493) | (2,166) | (13,569) | (19,489) | (16,528) | (14,390) | ||
| Total current assets: | 91,310 | 109,637 | 99,868 | 90,525 | 67,630 | 89,758 | 117,438 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 66,646 | 72,498 | 76,393 | 79,693 | 89,614 | 91,502 | 94,093 | ||
| Long-term investments and receivables | 342 | 463 | 448 | ||||||
| Long-term investments | 342 | 463 | 448 | ||||||
| Intangible assets, net (including goodwill) | 20,182 | 20,505 | 20,887 | 21,258 | 22,201 | 24,126 | 24,750 | ||
| Goodwill | 10,967 | 10,967 | 10,967 | 10,967 | 11,342 | 12,381 | 12,381 | ||
| Intangible assets, net (excluding goodwill) | 9,215 | 9,538 | 9,920 | 10,291 | 10,859 | 11,745 | 12,369 | ||
| Regulated entity, other noncurrent assets | 9,405 | 5,224 | 5,385 | ||||||
| Deferred costs | 6,520 | 7,762 | 8,940 | 8,801 | |||||
| Other noncurrent assets | 452 | 488 | 459 | 200 | 10,035 | 6,061 | |||
| Prepaid expense and other noncurrent assets | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 6,063 | ||
| Other undisclosed noncurrent assets | 159,192 | 169,834 | 187,816 | 192,430 | 269,436 | 285,318 | 285,364 | ||
| Total noncurrent assets: | 252,992 | 271,087 | 294,495 | 302,382 | 401,033 | 412,694 | 416,103 | ||
| TOTAL ASSETS: | 344,302 | 380,724 | 394,363 | 392,907 | 468,663 | 502,452 | 533,541 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 42,289 | 43,874 | 43,465 | 48,682 | 43,779 | 37,609 | 48,400 | ||
| Taxes payable | 4,511 | 8,274 | 8,237 | 7,144 | 2,436 | 2,491 | 2,280 | ||
| Other undisclosed accounts payable and accrued liabilities | 37,778 | 35,600 | 35,228 | 41,538 | 41,343 | 35,118 | 46,120 | ||
| Debt | 405,346 | 406,470 | 112,209 | 342,306 | 14,242 | 96,841 | 21,647 | ||
| Deferred revenue and credits | 7,494 | 7,819 | 24,164 | 26,361 | 10,364 | 13,111 | 20,100 | ||
| Other liabilities | 551 | 527 | 1,023 | 1,489 | 1,465 | 1,666 | 1,814 | ||
| Other undisclosed current liabilities | (245,951) | (242,091) | 8,237 | 7,144 | 2,436 | 2,491 | 2,280 | ||
| Total current liabilities: | 209,729 | 216,599 | 189,098 | 425,982 | 72,286 | 151,718 | 94,241 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 336,542 | 330,174 | 247,685 | 314,768 | |||||
| Long-term debt, excluding current maturities | 336,542 | 327,325 | 244,191 | 311,366 | |||||
| Capital lease obligations | 2,849 | 3,494 | 3,402 | ||||||
| Liabilities, other than long-term debt | 254 | 970 | 958 | 981 | |||||
| Other liabilities | 254 | 970 | 958 | 981 | |||||
| Other undisclosed noncurrent liabilities | 267,048 | 267,553 | 266,958 | (336,542) | 3,861 | 18,154 | 25,394 | ||
| Total noncurrent liabilities: | 267,048 | 267,553 | 266,958 | 254 | 335,005 | 266,797 | 341,143 | ||
| Total liabilities: | 476,777 | 484,152 | 456,056 | 426,236 | 407,291 | 418,515 | 435,384 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | (132,475) | (103,428) | (61,693) | (33,329) | 61,372 | 83,937 | 98,157 | ||
| Common stock | 500 | 500 | 500 | 485 | 483 | 482 | 481 | ||
| Treasury stock, value | (96,532) | (96,531) | (96,531) | (96,531) | (96,530) | (96,530) | (96,530) | ||
| Additional paid in capital | 275,154 | 273,374 | 271,386 | 269,421 | 258,761 | 257,128 | 255,563 | ||
| Accumulated deficit | (311,597) | (280,771) | (237,048) | (206,704) | (101,342) | (77,143) | (61,357) | ||
| Other undisclosed stockholders' equity | 96,532 | 96,531 | 96,531 | 96,531 | 96,530 | 96,530 | 96,530 | ||
| Total stockholders' equity: | (35,943) | (6,897) | 34,838 | 63,202 | 157,902 | 180,467 | 194,687 | ||
| Other undisclosed liabilities and equity | (96,532) | (96,531) | (96,531) | (96,531) | (96,530) | (96,530) | (96,530) | ||
| TOTAL LIABILITIES AND EQUITY: | 344,302 | 380,724 | 394,363 | 392,907 | 468,663 | 502,452 | 533,541 | ||
Income statement (P&L) ($ in thousands)
| 9/30/2014 Q3 | 6/30/2014 Q2 | 3/31/2014 Q1 | 12/31/2013 Q4 | 9/30/2013 Q3 | 6/30/2013 Q2 | 3/31/2013 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 68,108 | 87,576 | 64,283 | 71,865 | 70,033 | 63,352 | 83,409 | |
| Cost of revenue (Cost of Goods and Services Sold) | (49,142) | (74,854) | (42,616) | (144,271) | (38,750) | |||
| Other undisclosed gross profit | (55,298) | (72,370) | ||||||
| Gross profit: | 18,966 | 12,722 | 21,667 | (72,406) | 31,283 | 8,054 | 11,039 | |
| Operating expenses | (56,932) | (82,091) | (63,273) | (75,547) | (68,072) | (55,298) | (72,370) | |
| Other operating income (expense), net (Other Expenses) | (16,931) | (30,637) | (13,359) | 10,681 | 9,316 | 8,748 | 8,236 | |
| Other undisclosed operating income | 41,669 | 87,865 | 40,041 | 49,957 | 12,140 | 25,941 | 48,094 | |
| Operating loss: | (13,228) | (12,141) | (14,924) | (87,315) | (15,333) | (12,555) | (5,001) | |
| Nonoperating income (expense) | (579) | 397 | (337) | (519) | (432) | (318) | 133 | |
| Foreign currency transaction gain (loss), before tax | (173) | (310) | (133) | 176 | ||||
| Other nonoperating income (expense) | (579) | 397 | (337) | (346) | (122) | (185) | (43) | |
| Interest and debt expense | (6,034) | (18,972) | (9,631) | (10,162) | (8,884) | (8,430) | (8,369) | |
| Loss from continuing operations before equity method investments, income taxes: | (19,841) | (30,716) | (24,892) | (97,996) | (24,649) | (21,303) | (13,237) | |
| Other undisclosed loss from continuing operations before income taxes | (10,318) | (12,062) | (3,391) | |||||
| Loss from continuing operations before income taxes: | (30,159) | (42,778) | (28,283) | (97,996) | (24,649) | (21,303) | (13,237) | |
| Income tax expense (benefit) | (667) | (945) | (1,894) | (4,161) | 548 | 5,402 | 1,570 | |
| Net loss: | (30,826) | (43,723) | (30,177) | (102,157) | (24,101) | (15,901) | (11,667) | |
| Net income (loss) attributable to noncontrolling interest | 170 | (98) | 115 | 125 | ||||
| Net loss available to common stockholders, diluted: | (30,826) | (43,723) | (30,177) | (101,987) | (24,199) | (15,786) | (11,542) | |
Comprehensive Income ($ in thousands)
| 9/30/2014 Q3 | 6/30/2014 Q2 | 3/31/2014 Q1 | 12/31/2013 Q4 | 9/30/2013 Q3 | 6/30/2013 Q2 | 3/31/2013 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (30,826) | (43,723) | (30,177) | (102,157) | (24,101) | (15,901) | (11,667) | |
| Comprehensive loss: | (30,826) | (43,723) | (30,177) | (102,157) | (24,101) | (15,901) | (11,667) | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (170) | 98 | (115) | (125) | ||||
| Comprehensive loss, net of tax, attributable to parent: | (30,826) | (43,723) | (30,177) | (102,327) | (24,003) | (16,016) | (11,792) | |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.