Mitcham Industries Inc Q3 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.

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : When you talked about the $4.5 million in delays, do you expect to recoup that full amount in Q4, plus your normally scheduled business? Or are we seeing a shift to the right, where we pick up some of that in Q4, but we'll just move some of that into fiscal Q1 and then forward?

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : So between Q3 and Q4 it will pretty much be on schedule as what you originally thought after Q2?

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : In regards to the Asian contracts that you picked up for delivery in FY18, any time table there to those? Are those later in the year? And then also, the purpose of those, is it more scientific-based that they are going to use them for, or do you know? 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 08, 2016 / 2:00PM, MIND.OQ - Q3 2017 Mitcham Industries Inc Earnings Call

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : Is the margin profile better for some of these industries outside of oil and gas, or is it pretty much consistent across the board?

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : Okay. Now that we have the elections, I always feel compelled to ask a Trump question.

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : There has been talk about undoing some of the executive orders regarding shutting down the expiration in the Gulf Coast on the -- closer to Florida, West Coast, Arctic Circle, some of these other topics that have been closed off. Does that give you more optimism that those could be reopened, or doesn't that matter if it is reopened if there is nobody interested in exploring those areas?

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : We have seen some easing in Mexico with Pemex regarding foreign investment and other players, giving them a little more control. Does that help you out in the western Gulf to maybe stimulate some activity down there? 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 08, 2016 / 2:00PM, MIND.OQ - Q3 2017 Mitcham Industries Inc Earnings Call

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : When you talk about the initial inquiries that you are starting to see pick up in activity, especially maybe in Europe and some of these other areas, are those typically the larger entities. Do you have the wherewithal to be first in exploration, or are these some of the smaller wildcatters that can take on a little more risk in speculation?

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : Okay. Last question in regarding the defense contracts, obviously a longer duration than usual in procuring those contract based on budgets and other things, do you have an idea of scope, time table, when you may get those initial contracts? And also, are you authorized to sell to foreign governments for their defense programs, or is this US only?

Question: Tyson Bauer - Kansas City Capital Associates - Analyst : Okay. Thank you, gentlemen, for my one question and one follow up. (laughter)

Question: Gregg Hillman - First Wilshire Securities Management - Analyst : First of all, could you give a little more detail or color on Latin America in particular. Like Colombia, whether could it get much bigger than what it is and maybe some other countries, like Argentina, for example for your traditional equipment leasing business?

Question: Gregg Hillman - First Wilshire Securities Management - Analyst : Okay. And on the non-oil side, could you just talk a little bit about what is the synergy between Seamap and Klein? And can you talk about the R&D effort at both those companies and how they go about R&D, whether it is just customer focus, or whether there is any more blue sky type stuff.

Question: Gregg Hillman - First Wilshire Securities Management - Analyst : Okay. And just another question on border security for countries, or even the United States border. For example, can use your hydrophones -- I guess your traditional seismic equipment to detect tunnels at the border of Mexico, the United States?

Question: Gregg Hillman - First Wilshire Securities Management - Analyst : Okay. And is it being used in the United States, or it's just being used outside of the United States right now?

Question: Gregg Hillman - First Wilshire Securities Management - Analyst : Okay. Thanks, gentlemen.