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Investing.com -- Mind Technology Inc (NASDAQ:MIND) stock gained 2.5% in after-hours trading Tuesday following the announcement that its Seamap unit has received orders worth over $9.5 million from an international seismic contractor.
The orders are for GunLink source controllers and associated equipment, with deliveries expected to occur during the current fiscal year or early next year, the company said in a statement.
Mark Welker, Vice President of MIND and Seamap Managing Director, noted that despite a temporary slowdown in order activity, the company continues to see strong interest in its source controllers and other products.
"These most recent orders, which have been pending for some time as we finalized technical requirements, is good evidence of this continuing interest," Welker said.
The company did not disclose the identity of the international seismic contractor that placed the orders.
Mind Technology specializes in providing technology to the oceanographic, hydrographic, defense, seismic and security industries. The stock closed the regular trading session at $5.20 before moving higher in the after-hours session.
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