THE EXPLORATION EQUIPMENT SUPPLIERTM GHS100 Energy Conference June 25, 2012 1
Forward-Looking Statement Certain statement and information in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words believe, expect,…
Company Overview Business: Seismic Equipment Leasing and Sales Largest independent lessor of latest technological seismic equipment worldwide Designs, manufactures and sells marine seismic equipment through Seamap business unit…
Seismic Market Data Seismic M-C Data Data Proc & Equipment Company Leasing Acquisition Crews Library Interp Mfg Mitcham Geokinetics Dawson Tidelands PGS BGP CGGVeritas (Sercel) WesternGeco (Schlumberger) Global…
Growing Global Seismic Market Increasing worldwide demand for seismic services, both land and marine Industry trend toward higher resolution surveys requires higher channel count Expanded applications for seismic Exploration…
Worlds Largest Lease Pool Extensive state-of-the-art equipment inventory deployed worldwide addresses current market needs quickly and efficiently Land Over 220,000 recording channels Geophones Heli-pickers Associated equipment…
Broad Global Footprint Canada U.K Russia Hungary United States Colombia Singapore Peru Australia 7
The Leasing Advantage Why customers lease versus buy Better utilization of capital Lowers prospect of idle equipment between jobs Reduces capital expenditures for new seismic equipment Allows use of capital for equipment that is not…
The Mitcham Leasing Model Leasing seismic equipment provides a cost effective and unique alternative for seismic contractors Volume leverage in the business model at minimal incremental costs Targeted payback of approximately 2…
Leading Manufacturer of Targeted Marine Equipment Seamap designs, manufactures and sells a variety of industry-leading products for marine seismic market GunLink energy source controllers have become the preferred choice with over…
Improving Demand for Our Services Inquiries, bids and contract activity brisk Seismic contractors reporting increased backlog Growing international markets Latin America Eastern Europe Marine Seamap continues strong…
Positioned for Growth Actions in recent years position Mitcham for strong growth Expansion of lease pool Over 200 million added over last 6 years New products Operating facilities in new geographies Expanded organization Increase…
Financial Highlights 13
Core Leasing Revenue 70 60 50 in millions 40 30 20 10 0 2006 2007 2008 2009 2010 2011 2012 Q1 2013 FYE January 31 14
Seamap Revenue and Gross Profit 30 Revenue Gross Profit 25 20 in millions 15 10 5 0 2006 2007 2008 2009 2010 2011 2012 Q1 2013 Seamap acquired July 2005 FYE January 31 15
Capital Expenditures Additions to Lease Pool 200 million investment 80 70 60 in millions 50 40 30 20 10 0 2006 2007 2008 2009 2010 2011 2012 Q1 2013 FYE January 31 16
Financial Utilization of Lease Pool (one way to measure utilization) FYE January 31, ( in millions) 2006 2007 2008 2009 2010 2011 2012 Q1 2012 Average lease pool 74.0 82.0 102.5 121.9 139.5 159.4 195.2 230.0 investment…
Solid Financial Liquidity April 30, 2012 (in thousands) Cash and short-term investments 15,483 Working capital 50,143 Outstanding line of credit 19,200 1 Available line of credit - 35 million 12,800 1 facility 1…
Investment Highlights Growing markets Latin America Europe Marine New products Leasing and manufacturing business models provide superior margins compared to other segments of seismic industry Highly profitable manufacturing…
Appendix 20
Longstanding Customer Relationships International seismic contractors Indigenous seismic contractors State-owned oil and gas companies International service companies 21
Overview of Seismic Industry Mitcham Industries (MIND) Equipment lessor Manufacture & sale of equipment Sale of experienced equipment Support services Original Equipment Data Acquisition Contractors Data…
Seismic Surveying The First Step in Energy Step 1 - Seismic Step 2 - Drilling Step 3 - Refining Step 4 End User Energy Source Search Receive Data Record Data Process Data Land Marine 23
EBITDA Reconciliation Fiscal Year Ended January 31, (in thousands) Q1 2006 2007 2008 2009 2010 2011 2012 2013 Net income (loss) 10,855 9,285 11,439 9,065 520 4,729 24,321 8,456 Interest (422) (836) (479) (350) 415 473 396 5…
THE EXPLORATION EQUIPMENT SUPPLIER TM June 25, 2012 25
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