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 investments21,08837,07931,43818,90016,77410,68132,332
Cash and cash equivalents21,08837,07931,43818,90016,77410,68132,332
Receivables74,72688,35066,45381,86067,76069,02673,626
Inventory, net of allowances, customer advances and progress billings1071071071075,02511,219
Inventory107107107107 5,02511,219
Prepaid expense5,6324,5944,0363,2272,1993,798 
Prepaid expense and other current assets506
Assets held-for-sale  4,268 
Income taxes receivable 3868151,472
Deferred tax assets     12,67312,673
Other undisclosed current assets(10,243)(20,493)(2,166)(13,569)(19,489)(16,528)(14,390)
Total current assets:91,310109,63799,86890,52567,63089,758117,438
Noncurrent Assets
Property, plant and equipment66,64672,49876,39379,69389,61491,50294,093
Long-term investments and receivables    342463448
Long-term investments    342463448
Intangible assets, net (including goodwill)20,18220,50520,88721,25822,20124,12624,750
Goodwill10,96710,96710,96710,96711,34212,38112,381
Intangible assets, net (excluding goodwill)9,2159,5389,92010,29110,85911,74512,369
Regulated entity, other noncurrent assets    9,4055,2245,385
Deferred costs6,5207,7628,9408,801   
Other noncurrent assets45248845920010,0356,061 
Prepaid expense and other noncurrent assets6,063
Other undisclosed noncurrent assets159,192169,834187,816192,430269,436285,318285,364
Total noncurrent assets:252,992271,087294,495302,382401,033412,694416,103
TOTAL ASSETS:344,302380,724394,363392,907468,663502,452533,541
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:42,28943,87443,46548,68243,77937,60948,400
Taxes payable4,5118,2748,2377,1442,4362,4912,280
Other undisclosed accounts payable and accrued liabilities37,77835,60035,22841,53841,34335,11846,120
Debt405,346406,470112,209342,30614,24296,84121,647
Deferred revenue and credits7,4947,81924,16426,36110,36413,11120,100
Other liabilities5515271,0231,4891,4651,6661,814
Other undisclosed current liabilities(245,951)(242,091)8,2377,1442,4362,4912,280
Total current liabilities:209,729216,599189,098425,98272,286151,71894,241
Noncurrent Liabilities
Long-term debt and lease obligation   336,542330,174247,685314,768
Long-term debt, excluding current maturities   336,542327,325244,191311,366
Capital lease obligations    2,8493,4943,402
Liabilities, other than long-term debt   254970958981
Other liabilities   254970958981
Other undisclosed noncurrent liabilities267,048267,553266,958(336,542)3,86118,15425,394
Total noncurrent liabilities:267,048267,553266,958254335,005266,797341,143
Total liabilities:476,777484,152456,056426,236407,291418,515435,384
Stockholders' equity
Stockholders' equity attributable to parent(132,475)(103,428)(61,693)(33,329)61,37283,93798,157
Common stock500500500485483482481
Treasury stock, value(96,532)(96,531)(96,531)(96,531)(96,530)(96,530)(96,530)
Additional paid in capital275,154273,374271,386269,421258,761257,128255,563
Accumulated deficit(311,597)(280,771)(237,048)(206,704)(101,342)(77,143)(61,357)
Other undisclosed stockholders' equity96,53296,53196,53196,53196,53096,53096,530
Total stockholders' equity:(35,943)(6,897)34,83863,202157,902180,467194,687
Other undisclosed liabilities and equity(96,532)(96,531)(96,531)(96,531)(96,530)(96,530)(96,530)
TOTAL LIABILITIES AND EQUITY:344,302380,724394,363392,907468,663502,452533,541

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
Revenues68,10887,57664,28371,86570,03363,35283,409
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:18,96612,72221,667(72,406)31,2838,05411,039
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)10,6819,3168,7488,236
Other undisclosed operating income41,66987,86540,04149,95712,14025,94148,094
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)5485,4021,570
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)115125
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.

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