Mitcham Industries Inc Q1 2017 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Tyson Bauer - KC Capital - Analyst : Good morning, gentlemen.

Question: Tyson Bauer - KC Capital - Analyst : Can you provide a little additional color with the sales cycle and lead times that are involved with Klein and some of your non-oil and gas leasing projects that are more military or other industry-oriented? Is there a normal budget cycle and a normal, where you can see, a pretty good lead time of what's out there to bid on and to procure those contracts?

Question: Tyson Bauer - KC Capital - Analyst : Okay. So when you give the positive outlook for 2017 and 2018, that's because a lot of those things are ready existing and in the pipeline. These aren't things that we are hoping to see; these are things in existence.

Question: Tyson Bauer - KC Capital - Analyst : You made a comment about the possibility of some lease pool sales give you a net working capital benefit, as I'm guessing your CapEx will be de minimis this year. Any kind of magnitude that you're looking for? A benefit that would help your liquidity throughout this year on recognizing and turning that into cash some of those inventory amounts? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 09, 2016 / 1:00PM, MIND.OQ - Q1 2017 Mitcham Industries Inc Earnings Call

Question: Tyson Bauer - KC Capital - Analyst : Okay and last question. When you did your debt paydown, was there an adjustment to your available credits that corresponded with that paydown, or do you still have the existing $25 million?

Question: Tyson Bauer - KC Capital - Analyst : Okay, thank you.

Question: Sam Rebotsky - SER Asset Management - Analyst : Good morning, gentlemen. With the difficulty that has occurred with the price of oil and the significant improvements and the rig count has been significantly lowered and having raised the capital, even though you want to raise additional money, do you see -- what kind of visibility do you have where today, you might need to raise additional funds -- this at one year, two year? What is your comfort level on the ability to hold capital and utilize it going forward?

Question: Sam Rebotsky - SER Asset Management - Analyst : And do you see a certain minimum revenue to breakeven on a profit -- basically, on a profit basis, not on a cash flow basis? Do you see when that may occur?

Question: Sam Rebotsky - SER Asset Management - Analyst : As far as the current quarter and as far as a normal quarter, what do you see as the best quarter based on past history and future, the fourth, the third, the second, the first. What do you see where the quarter is going forward what they might --?

Question: Sam Rebotsky - SER Asset Management - Analyst : Okay. And do you say -- as oil is, say, in the $50 range, if it's, say, gets to $60, do you see that being significant where more increase -- I mean, there's going to be more increase in your utilization of your equipment than -- and exploring. But is there a certain number that you see that would -- should permit you to be over the hump, so to say?

Question: Sam Rebotsky - SER Asset Management - Analyst : Okay. And as far as opportunities, are you looking at anything now or are you waiting?

Question: Sam Rebotsky - SER Asset Management - Analyst : Well, good luck.