Dawson Geophysical Company (DWSN)

MarketEdge updated Long on 2/5/10. No debt, 15 million in cash. Roughly $80 pps at its pinnacle. Slumped to less than $20 in March of last year. only up 5 bucks since that time.
Dawson reported revenues down 55% yoy with a net loss of 4.2 million. This is only about 10% of revenue and will be easily overcome as we come into the warmer months. Working crews were reduced from four crews to now only one crew as previously announced "until a more competitive pricing environment is realized". According to Stephen Jumper (Pres and CEO) "The first quarter of fiscal 2010 was challenging; Lower crew utilization rates and excessive weather downtime on several crews in October and December, coupled with first quarter related issues of shorter days and holiday season negatively impacted our results.
Despite the disappointing first quarter results, we have experienced an increase in demand for our services which was beginning in late Calendar '09 in various basins."

Moving into some oil and gas drilling programs by Williams, Oxy, Antero Resources and others indicates that Dawson and other seismic mapping companies will see a steady increase in revenue over the next few years.
Outperform