Mitcham Industries Inc Q2 2017 Earnings Call Transcript

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

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : Good morning, gentlemen. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 08, 2016 / 1:00PM, MIND.OQ - Q2 2017 Mitcham Industries Inc Earnings Call

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : Just going to ask -- get a little more characterization to your comments in regards to improvement, which is a relative term, as we go into the second half of the year and to the next fiscal year. When you talked about general interest as opposed to maybe a handful of needle-moving-type projects at these levels, which are more of an all or none type of project that you can bid on, what are you seeing as far as what's needed to create more of a broader general interest, other than obviously pricing in the global markets? Are there other factors involved that can stimulate that activity and interest beyond just seeing oil go $50, $60 or above?

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : So when we see the last couple of seasons, winter seasons in the northern hemisphere, obviously Russia widely publicized on whether they're going to maintain their hold down production, and Canada obviously has not had any robust activity recently whatsoever. What gives you that confidence that even though we have indications of interest, turning those actually into projects and deliveries would occur?

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : Last question, you talked about the commercial and military opportunities going forward. Are those off-the-shelf purchases of existing products that you have so you don't have those long lead times are catering the product to specific applications? Or are we diving into things that need to get approved by the DOD or other companies that drags out that whole procurement process?

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : Thank you, gentlemen.

Question: Mark Brown - Seaport Global - Analyst : Good morning, gentlemen.

Question: Mark Brown - Seaport Global - Analyst : I just wanted to check, it's interesting that you mentioned that you're getting more inquiries from some customers and bidding on some new projects. I don't know if you have any specifics you can share with us around some of those projects. I know that there are confidentiality issues. But perhaps maybe whether these are from national oil companies or independents or IOCs or any details that you can provide?

Question: Mark Brown - Seaport Global - Analyst : Okay, no, that's helpful. And your CapEx, I was curious how we should think about that going forward, assuming the same sort of activity levels or maybe slight uptick in activity from fiscal Q2. What kind of CapEx assumption should we be thinking about, including lease pool additions, if any?

Question: Mark Brown - Seaport Global - Analyst : Okay. And to what do you attribute the Seamap resiliency when you look at year-over-year results? It's just a little bit surprising that that has held up as well as it has.

Question: Mark Brown - Seaport Global - Analyst : And I was curious on that front, the non-O&G, how much visibility do you have? Is it quarter by quarter or do you have any ability to see longer term? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 08, 2016 / 1:00PM, MIND.OQ - Q2 2017 Mitcham Industries Inc Earnings Call

Question: Mark Brown - Seaport Global - Analyst : And is this primarily US government, US military applications, or is it other countries that you would provide services?

Question: Mark Brown - Seaport Global - Analyst : Okay. Thank you.