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UPDATE 1-Dawson Geophysical Q4 profit up, beats Street view

Wed Nov 14, 2007 11:53am EST

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(Recasts, adds details and share movement)

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Nov 14 (Reuters) - Dawson Geophysical Co (DWSN.O), which provides seismic data services to companies exploring for oil and gas, said its fourth-quarter profit grew 77 percent, driven by addition of data acquisition crews, sending shares up 7 percent. Pricing and productivity improvements realized from expanded capabilities of existing crews also boosted revenue, Midland, Texas-based Dawson said in a statement.

The company reported fourth-quarter net income of $8.8 million, or $1.14 a share, compared with $5.0 million, or 65 cents a share, a year ago. Revenue rose 47 percent to $75.5 million. Analysts on average were expecting 99 cents a share, excluding items, according to Reuters Estimates.

The company said its current order book remains strong and reflects commitments sufficient to maintain operations at full capacity well into calendar 2008.

Shares of the company were trading $3.90 higher at $79.07 in morning trade on the Nasdaq.

Excluding Wednesday's rise, the stock has outperformed the broader sector this year with more than a 100 percent gain, compared with a 38 percent increase in the S&P 1500 Oil & Gas Equipment & Services Sub-Industry Index .15GSPOILW. (Reporting by Nachiket Kelkar in Bangalore; Editing by Jarshad Kakkrakandy; )

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