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THE WOODLANDS, Texas - MIND Technology, Inc. (NASDAQ:MIND) has completed an expansion of its manufacturing and repair facility in Huntsville, Texas, according to a company statement released Wednesday. The company, which has seen its stock surge 117% over the past year and maintains a healthy balance sheet with a current ratio of 3.55, continues to strengthen its operational capabilities.
The expansion aims to accommodate anticipated higher levels of activity at the facility, which is operated by the company’s MIND Maritime Acoustics, LLC unit.
"The additional floor space and other enhancements will allow our unit to efficiently take on significantly larger manufacturing and product repair projects," said Rob Capps, President and CEO of MIND Technology. The increased capacity is expected to support existing Seamap products, newly developed products, and services to third parties.
MIND Technology provides technology to the oceanographic, hydrographic, defense, seismic and security industries. The company is headquartered in The Woodlands, Texas, with operating locations in the United States, Singapore, Malaysia, and the United Kingdom.
The Seamap unit of MIND designs, manufactures and sells specialized marine exploration and survey equipment.
The announcement comes as part of the company’s efforts to expand its operational capabilities, though no specific financial details regarding the expansion were disclosed in the press release.
In other recent news, Mind Technology Inc. reported a difficult start to fiscal 2026, with notable declines in revenue and an operating loss during the first quarter. The company’s earnings announcement reflected these challenges, though Mind Technology expressed optimism about upcoming quarters, pointing to favorable market conditions and a strong lineup of products. Despite the setbacks, the company remains focused on its future strategies. There were no recent reports of mergers involving Mind Technology. Analyst opinions on the company have not been updated recently, with no new upgrades or downgrades reported. Investors will likely keep a close eye on how the company plans to navigate the current financial landscape. Mind Technology’s next steps will be crucial in determining its performance in the upcoming quarters.
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