Mitcham Industries Inc Q3 2015 Earnings Call Transcript

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

Question: Veny Aleksandrov - FIG Partners, LLC - Analyst : Good morning Bill and Rob, so great to hear you on the call.

Question: Veny Aleksandrov - FIG Partners, LLC - Analyst : My first question is on Russia. You said that you expect a good winter there. Can you talk a little bit more about -- is there any impact on you from the embargo? And you talked about foreign exchange losses; are the majority of these coming from Russia?

Question: Veny Aleksandrov - FIG Partners, LLC - Analyst : Thank you so much. And then on the marine side how should we think about the cycle? How long do think the cycle and the downturn will run from your previous historic experience?

Question: Veny Aleksandrov - FIG Partners, LLC - Analyst : Thank you. And the last one is just a confirmation. So my understanding is that leasing, equipment leasing revenues are going to be flattish Q4 or Q3. The US job is not there, but Russia is kicking in and some Canada, and there might be jobs that might affect those jobs up or down. Is this correct?

Question: Veny Aleksandrov - FIG Partners, LLC - Analyst : Got it. Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 10, 2014 / 2:00PM, MIND.OQ - Q3 2015 Mitcham Industries Inc Earnings Call

Question: Georg Venturatos - Johnson Rice & Company - Analyst : Good morning, guys. Bill, obviously great to have you back on the call.

Question: Georg Venturatos - Johnson Rice & Company - Analyst : I just wanted to touch on Seamap. Obviously with the marine environment that we're looking at, just wanted to get your thoughts on -- obviously this aftermarket spare parts business has always produced really nice margins. In this type of environment do you think those are sustainable at current levels? Obviously this last quarter was strong again.

Question: Georg Venturatos - Johnson Rice & Company - Analyst : Right. Now that makes sense. That's helpful. And then I guess you mentioned a few regions that you are optimistic on potentially in 2015. We've heard some of your commentary on Latin America and Europe more recently in the last few quarters. Any color you could give on what you're seeing as potential opportunities in Alaska and Asia-Pacific as well?

Question: Georg Venturatos - Johnson Rice & Company - Analyst : Sure. Got it. Appreciate the answers guys.

Question: Mark Brown - Global Hunter Securities - Analyst : Good morning, guys.

Question: Mark Brown - Global Hunter Securities - Analyst : I was just curious on the ION geophysical marine outfit that you acquired. If you could give us an update? I don't know if you can tell us the revenues that you're generating from that business now that it's integrated into your financials. And just what the prospects are for China and the growth and penetration of that market.

Question: Mark Brown - Global Hunter Securities - Analyst : Good. Had a quick guidance type question on lease pool depreciation expense. Should we model that as flat going forward? Should that be declining somewhat? I just wanted to see if you had any color.

Question: Mark Brown - Global Hunter Securities - Analyst : Okay, good. And then on your share repurchase, it sounds like that's something that you're interested in re-upping your authorization and taking advantage of the share price and the valuation. Curious how much leverage are you willing to put on your balance sheet in order to pursue more share repurchases in the future?

Question: Mark Brown - Global Hunter Securities - Analyst : Well that's great. I appreciate it guys. Thank you.