QUARTERLY NET INCOME ALMOST TRIPLES ON RECORD REVENUES AND EARNINGS

BP Increases Size of Contract for Caspian Sea Seismic Reservoir Monitoring System
Company Announces Increase in Expansion Plans for Houston Manufacturing Facility

Houston, Texas – August 2, 2006 – OYO Geospace (NASDAQ: OYOG) today announced net income for its third quarter ended June 30, 2006 almost tripled to $3.4 million, or $0.57 per diluted share, on revenues of $30.1 million.  Both revenue and net income amounts are new quarterly records for the company.  This compares with net income of $1.2 million, or $0.20 per diluted share, on revenues of $23.1 million in the comparable quarter last year.

For the nine months ended June 30, 2006, OYO Geospace recorded sales of $74.7 million and net income of $6.3 million, or $1.06 per diluted share.  For the comparable period last year, the company recorded sales of $59.7 million and net income of $3.1 million, or $0.54 per diluted share.

“Results for the quarter included revenues from the sale of an $8.0 million seismic reservoir monitoring system to BP for installation in the North Sea.  This system is the second permanent seismic reservoir monitoring system sold to BP for a North Sea application.  We continue on schedule with two other seismic reservoir monitoring system contracts with deliveries expected in the coming quarters.  During the quarter ended June 30, 2006, the contract for BP’s Caspian Sea system was expanded by $2.3 million to $16.5 million.  This additional equipment is expected to be delivered at the same time as the original contract’s equipment,” said Gary Owens, OYO Geospace’s President and Chief Executive Officer.

“Our seismic exploration products continue to experience high demand worldwide driven by the continued demand for seismic services.  Our seismic sensors, connectors and marine products were the primary contributors to the growth in this product group,” said Owens.

“Sales of our non-seismic offshore cable and industrial sensor products were also near record levels for the quarter despite the restricted capacity issues constraining our efforts to manufacture specialty cables.  A lack of manufacturing capacity has limited the potential financial impact from this market.  Our planned facility expansion will enable the company to better serve this market,” continued Owens.

“Sales of our thermal solutions products were very good this quarter, reaching a new quarterly record.  We continue to see growth opportunities in this market,” said Owens.

“As announced previously, the company embarked on an 80,000 square foot expansion of its Houston facility.  We subsequently decided to expand the size of this new facility to 170,000 square feet including 130,000 square feet of manufacturing space, increasing its expected cost from approximately $10 million to approximately $12 million. Ground breaking has taken place for the new facility and we expect to complete the construction phase of the project in December.  The installation of additional manufacturing equipment and the reorganization of our existing manufacturing space is scheduled for completion in our second fiscal quarter of 2007,” continued Owens.

OYO Geospace designs and manufactures instruments and equipment used by the oil and gas industry in the acquisition and processing of seismic data as well as in reservoir characterization and monitoring activities.  The company also designs and manufactures equipment and film for the thermal solutions industry worldwide.

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included herein including statements regarding potential future products and markets, our potential future revenues, future financial position, business strategy, future expectations and other plans and objectives for future operations, are forward-looking statements. We believe our forward-looking statements are reasonable. However, they are based on certain assumptions about our industry and our business that may in the future prove to be inaccurate. Important factors that could cause actual results to differ materially from our expectations include the level of seismic exploration worldwide, which is influenced primarily by prevailing prices for oil and gas, the extent to which our products are accepted in existing and new markets, the availability of competitive products that may be more technologically advanced or otherwise preferable to our products, the resolution  of worldwide conflicts and tensions and other factors disclosed under the heading “Risk Factors” and elsewhere in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are on file with the Securities end Exchange Commission. Further, all written and verbal forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such factors.

M O R E

CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share amounts)
(unaudited)

OYO GEOSPACE REPORTS FISCAL 2006 SECOND QUARTER RESULTS

Company Announces Expansion of Houston Manufacturing Facility

Houston, Texas – May 5, 2006 – OYO Geospace (NASDAQ: OYOG) today announced net income of $1.6 million, or $0.26 per diluted share, on revenues of $22.7 million for its second quarter ended March 31, 2006.  This compares with net income of $1.5 million, or $0.27 per diluted share, on revenues of $21.3 million in the comparable quarter last year.

For the six months ended March 31, 2006, OYO Geospace recorded sales of $44.6 million and net income of $2.8 million, or $0.48 per diluted share.  For the comparable period last year, the company recorded sales of $36.6 million and a net income of $1.9 million, or $0.33 per diluted share.

“Results for the quarter were fueled by the continued high demand worldwide for seismic services which stimulates demand for our products.  In Canada, a warmer than normal winter season slowed the usually strong demand for our seismic equipment rentals.  However, strong demand in Canada for sales of seismic equipment helped to offset the decline in rental revenues,” said Gary Owens, the Company’s President and Chief Executive Officer.

“Sales of our seismic reservoir products were relatively low this quarter but, as previously announced, we recently received three contracts totaling almost $30 million for seismic reservoir monitoring systems.  The first contract is for a $7.6 million permanent seabed system ordered by BP for use in the North Sea.  This system has now been delivered to BP and installation is expected to begin soon.  Revenues from this contract will be recognized upon completion of the system’s installation, which is presently scheduled for June or July of 2006.  The second contract is a $7.0 million retrievable seabed system for the Bureau of Geophysical Prospecting (BGP), a Chinese seismic contractor.  Upon delivery and acceptance of the system by BGP, which is currently also scheduled for June or July of 2006, the company expects to recognize $6.3 million of the contract revenues.  Additional revenues of $0.7 million will be recognized after the system has successfully operated for a specified time period, which we expect to occur in fiscal year 2007.  The third contract is a $14.2 million seabed system ordered by BP for reservoir monitoring operations in the Azerbaijan sector in the Caspian Sea.  Revenues are expected to be recognized after successful installation of the system, which is presently scheduled to occur at the end of the 2006 calendar year, which falls into the company’s first quarter of fiscal year 2007.  Production and delivery of all three contracts are currently on schedule.  Our factory and equipment utilization for this product line is currently running at maximum capacity.  We are excited about the impact of this new technology on our company as well as its impact on our customer’s ability to increase the efficiency of energy production” added Owens.

“Sales of our non-seismic offshore cable and industrial sensor products continued to grow in the quarter.  Revenues from these products for the three months and six months ended March 31, 2006 grew 116% and 56%, respectively, from the comparable periods of the prior fiscal year.  However, further growth for our offshore cable products is constrained by capacity limitations at the moment,” continued Owens.

“Sales from our thermal solutions products were very good this quarter, reaching a six-year quarterly high.  We are beginning to see improvements and consistency in our thermal printhead production operation, allowing us to meet pent-up customer demand,” said Owens.

“As mentioned above, portions of our Houston manufacturing facility are running at or near full capacity.  Some manufacturing departments are operational 24 hours a day, seven days a week causing us to outsource certain operations due to capacity limitations.  Our cabling, machining and molding shops are especially space challenged.  Backlog for the Houston factory remains high and prospects for future business also look bright.  To alleviate our capacity constraints, the Board of Directors recently approved a $10.0 million expansion of our manufacturing space by about 50% and to add the appropriate manufacturing machinery and equipment to meet expected future demand.  This facility expansion will be located on surplus land at our Pinemont facility in Houston.  We plan to break ground for the expansion immediately and to be able to use the new facility near the end of this calendar year.  The facility expansion is expected to be financed with a long-term mortgage, and any machinery and equipment will be financed from our internal cash flow and/or from our line of credit.  This investment marks a bold initiative by the company, preparing it for further growth in the various markets it serves,” continued Owens.

OYO Geospace designs and manufactures instruments and equipment used by the oil and gas industry in the acquisition and processing of seismic data as well as in reservoir characterization and monitoring activities.  The company also designs and manufactures equipment and film for the thermal solutions industry worldwide.

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included herein including statements regarding potential future products and markets, our potential future revenues, future financial position, business strategy, future expectations and other plans and objectives for future operations, are forward-looking statements. We believe our forward-looking statements are reasonable. However, they are based on certain assumptions about our industry and our business that may in the future prove to be inaccurate. Important factors that could cause actual results to differ materially from our expectations include the level of seismic exploration worldwide, which is influenced primarily by prevailing prices for oil and gas, the extent to which our products are accepted in existing and new markets, the availability of competitive products that may be more technologically advanced or otherwise preferable to our products, the resolution  of worldwide conflicts and tensions and other factors disclosed under the heading “Risk Factors” and elsewhere in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are on file with the Securities end Exchange Commission. Further, all written and verbal forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such factors.

M O R E

OYO Geospace Receives $14.2 Million Contract for Seabed Acquisition System

Houston, Texas – February 27, 2006 – OYO Geospace (NASDAQ: OYOG) today announced that BP Exploration (Caspian Sea) Limited entered into a $14.2 million sales contract with the company for a seabed data acquisition system for reservoir monitoring operations in the Azerbaijan sector of the Caspian Sea.  Delivery of the system is expected to occur in the company’s fiscal fourth quarter and revenue recognition of the sales contract is expected to occur in FY 2007.

“This is the fourth sales contract for a reservoir characterization system scheduled for delivery in fiscal year 2006.  In October, we delivered our first new slimhole seismic data acquisition system for borehole applications.  In December, we announced the receipt of a $7.6 million contract to deliver a permanent seabed system to BP for use in the North Sea.  In January, the company announced a $7.0 million award of a retrievable seabed system for BGP, a large Chinese seismic contractor.  The seismic reservoir characterization market is a growing market for OYO Geospace and we are hopeful that further seismic reservoir product related opportunities will develop throughout the remainder of this fiscal year,” said Gary D. Owens, OYO Geospace’s Chairman, President and CEO.

OYO Geospace designs and manufactures instruments and equipment used by the oil and gas industry in the acquisition and processing of seismic data as well as in reservoir characterization and monitoring activities. The company also designs and manufactures equipment and film for the thermal printing industry worldwide.

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included herein including statements regarding potential future products and markets, our potential future revenues, future financial position, business strategy, future expectations and other plans and objectives for future operations, are forward-looking statements. We believe our forward-looking statements are reasonable. However, they are based on certain assumptions about our industry and our business that may in the future prove to be inaccurate. Important factors that could cause actual results to differ materially from our expectations include the level of seismic exploration worldwide, which is influenced primarily by prevailing prices for oil and gas, the extent to which our new products are accepted in the market, the availability of competitive products that may be more technologically advanced or otherwise preferable to our products, the resolution of the situation in the Middle East and other factors disclosed under the heading “Risk Factors” and elsewhere in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are on file with the Securities end Exchange Commission. Further, all written and verbal forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such factors.

OYO GEOSPACE REPORTS FISCAL 2006 FIRST QUARTER RESULTS

Houston, Texas –February 7, 2006 – OYO Geospace (NASDAQ: OYOG) today announced net income of $1.3 million, or $0.22 per diluted share, on revenues of $21.9 million for its first quarter ended December 31, 2005.  This compares with a net income of $372,000, or $0.07 per diluted share, on revenues of $15.3 million in the comparable quarter last year.

“Results for the quarter were fueled by strong demand for our seismic exploration products, especially our marine, geophone and cable product lines,” said Gary D. Owens, OYO Geospace’s Chairman, President and CEO.

“In the fourth quarter of fiscal year 2005, hurricane Rita caused us to delay a sale of our new slim hole seismic system.  We began delivering this slim hole system in October 2005, including a small expansion of the original order, ultimately resulting in $1.8 million of revenues for the first quarter of fiscal year 2006.  We believe this new system has performed exceptionally well and this new product will contribute favorably to our future financial performance,” said Owens.

As previously announced, the company received two significant orders in December 2005 and January 2006, respectively, for seabed seismic reservoir systems.  These orders included a $7.9 million seabed seismic system for a BP-operated field in the North Sea, and a $7.0 million retrievable seabed seismic system for BGP.  “We believe we are well-positioned to benefit from increasing demand for seismic reservoir monitoring products,” Owens said.

“Although still small, sales of our non-seismic offshore cable products and industrial sensor products also experienced growth from last year’s first quarter.  Demand for our offshore umbilical cables has increased due to repairs of hurricane damage to platforms and rigs in the Gulf of Mexico.  In addition, we believe customers are noticing our commitment to this industry and are embracing our products and capabilities,” continued Owens.

“Sales of our thermal solutions products were down for the quarter, partially due to manufacturing difficulties in meeting customer demand for thermal printheads.  Although sales in this segment were slower than we like, significant efforts continue in refining our printhead manufacturing processes, and in the development of new film and thermal printhead products.  In this regard, we recently introduced our new direct-to-screen thermal imaging product at the International Sportswear Show in Long Beach.  This new thermal imaging product allows images to be printed directly from a computerized system to a screen mesh which, in turn, is used to image textiles.  This direct-to-screen process allows for a faster pre-press operation, saving our customer time and money throughout the imaging process.  We expect to begin delivery of these new direct-to-screen products in our third quarter of fiscal 2006.  In addition to selling this new direct-to-screen imaging equipment, we plan to distribute the consumable screen mesh which adds to our overall product offering,” said Owens.

“Our backlog at the end of the quarter remains robust primarily due to orders for our seismic reservoir and seismic exploration products.  We are very excited about the current state of our seismic business, and we also remain committed to the development and operational improvement of our thermal solutions business.  We are hopeful that these efforts to grow our company will continue to bear fruit,” said Owens.

OYO Geospace designs and manufactures instruments and equipment used by the oil and gas industry in the acquisition and processing of seismic data as well as in reservoir characterization and monitoring activities. The company also designs and manufactures equipment and film for the thermal printing industry worldwide.

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included herein including statements regarding potential future products and markets, our potential future revenues, future financial position, business strategy, future expectations and other plans and objectives for future operations, are forward-looking statements. We believe our forward-looking statements are reasonable. However, they are based on certain assumptions about our industry and our business that may in the future prove to be inaccurate. Important factors that could cause actual results to differ materially from our expectations include the level of seismic exploration worldwide, which is influenced primarily by prevailing prices for oil and gas, the extent to which our new products are accepted in the market, the availability of competitive products that may be more technologically advanced or otherwise preferable to our products, the resolution of the situation in the Middle East and other factors disclosed under the heading “Risk Factors” and elsewhere in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are on file with the Securities end Exchange Commission. Further, all written and verbal forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such factors.

M O R E

OYO GEOSPACE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share amounts)

(unaudited)

                                                                                         Three Months              Three Months

                                                                                              Ended                           Ended

                                                                                     December 31, 2005      December 31, 2004

Sales  .......................................................................            $     21,915                   $     15,269

Cost of sales  ............................................................                   14,730                          10,305

Gross profit  .............................................................                     7,185                           4,964

Operating expenses:

       Selling, general and administrative  ........................                     3,792                           3,284

       Research and development  ..................................                     1,415                           1,178

                Total operating expenses  ..............................                     5,207                           4,462

Income from operations  ............................................                     1,978                              502

Other income (expense):

       Interest expense  ..................................................                     (197)                            (96)

       Interest income  ...................................................                       117                              103

       Foreign exchange gains (losses)  ...........................                       (40)                               45

       Other, net  ...........................................................                         15                               (3)

                Total other income (expense), net  .................                    (105)                               49

Income before income taxes and

     minority interest  ..................................................                     1,873                              551

Income tax expense  .................................................                       598                              176

Income before minority interest  .................................                     1,275                              375

Minority interest  .......................................................                          --                               (3)

Net income  ..............................................................              $     1,275                    $        372

Basic earnings per share  ..........................................              $       0.23                    $       0.07

Diluted earnings per share  ........................................              $       0.22                    $       0.07

Weighted average shares outstanding - Basic                              5,634,662                     5,591,140

Weighted average shares outstanding - Diluted                            5,837,711                     5,704,464

OYO GEOSPACE Receives $7.0 Million Order for Seabed Acquisition System

Houston, Texas – January 6, 2006 – OYO Geospace (NASDAQ: OYOG) today announced that the Bureau of Geophysical Prospecting (BGP), one of the world’s largest seismic data acquisition service contractors, entered into a $7.0 million sales contract with the company for a retrievable seabed data acquisition system. The 4,000 channel, four-component data acquisition system marks the first purchase by BGP for a product from OYO Geospace’s suite of reservoir characterization systems. The company expects to deliver this system in the third quarter of fiscal year 2006. Upon delivery and acceptance of the system by BGP, the company expects to recognize $6.3 million of the contract revenues. After the system has successfully operated for a specified time period, the company expects to receive and recognize the remaining $0.7 million of the contract revenue in the first quarter of fiscal year 2007.

“We are very pleased that BGP selected our product for their entry into the international seabed seismic data acquisition market. We are hopeful that this marks the beginning of a long and fruitful relationship between BGP and OYO Geospace in the development of this new market,” said Gary D. Owens, OYO Geospace’s Chairman, President and CEO.

“This sales contract is the third reservoir characterization system scheduled for delivery by the company in fiscal year 2006. In October, the company shipped the first of its new slimhole seismic data acquisition system for borehole applications. In December, the company announced the receipt of an award for a $7.6 million contract to deliver another permanent seabed system to BP for use in the North Sea. The seismic reservoir characterization market is a growing market for OYO Geospace. We are hopeful that further seismic reservoir product related opportunities will come our way during the remainder of this fiscal year,” continued Owens.

Mr. Wang Tiejun, President of BGP, said, “ BGP is building a seismic fleet consisting of two deep sea ocean bottom cable (OBC) seismic vessels. This OBC fleet will be equipped with OYO Geospace’s four-component armored-cable seabed seismic data acquisition system. With these systems, BGP will be able to provide advanced high-definition reservoir seismic services to oil companies world wide.”

OYO Geospace designs and manufactures instruments and equipment used by the oil and gas industry in the acquisition and processing of seismic data as well as in reservoir characterization and monitoring activities. The company also designs and manufactures equipment and film for the thermal printing industry worldwide.

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included herein including statements regarding potential future products and markets, our potential future revenues, future financial position, business strategy, future expectations and other plans and objectives for future operations, are forward-looking statements. We believe our forward-looking statements are reasonable. However, they are based on certain assumptions about our industry and our business that may in the future prove to be inaccurate. Important factors that could cause actual results to differ materially from our expectations include the level of seismic exploration worldwide, which is influenced primarily by prevailing prices for oil and gas, the extent to which our new products are accepted in the market, the availability of competitive products that may be more technologically advanced or otherwise preferable to our products, the resolution of the situation in the Middle East and other factors disclosed under the heading “Risk Factors” and elsewhere in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are on file with the Securities end Exchange Commission. Further, all written and verbal forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such factors. 

OYO GEOSPACE REPORTS FISCAL 2005 RESULTS

Company Receives $7.6 Million Contract for Permanent Subsea Reservoir Characterization System

Company Announces Purchase of Remaining 3% Stake in its Russian Operation

Houston, Texas – December 20, 2005 – OYO Geospace (NASDAQ: OYOG) today announced net income of $2.5 million, or $0.44 per diluted share, on revenues of $72.8 million for its fiscal year ended September 30, 2005.  This compares with a net income of $6.0 million, or $1.05 per diluted share, on revenues of $63.5 million for the prior year.  The company noted that its revenues for fiscal year 2004 include a performance bonus of $3.6 million related to the successful operation of a permanent seismic reservoir characterization system sold in fiscal year 2002.  In addition, the fiscal year 2004 results include a $0.8 million tax benefit resulting from the reversal of a deferred tax valuation allowance, and a $0.5 million tax benefit resulting from a change in the estimate for previously unrecognized tax deductions.

For the fourth quarter ended September 30, 2005, OYO Geospace recorded sales of $13.1 million and a net loss of $(565,000), or $(0.10) per diluted share. For the comparable period last year, the company recorded sales of $15.9 million and a net income of $510,000, or $0.09 per diluted share.  The loss for fiscal year 2005 fourth quarter was driven by lower sales and the under-absorption of fixed manufacturing costs.

“Although fiscal year 2005 saw a much improved demand for our seismic exploration products, our seismic business continues to suffer short term fluctuations as evidenced by our lower fourth quarter sales.  We began the fourth quarter with a very low backlog; however, our backlog has improved substantially over the course of the quarter.  While demand for our seismic exploration products continues to show strength, we saw a significant slowdown in deliveries of our seismic reservoir products in fiscal year 2005. In this regard, the threat of Hurricane Rita impacted us in the fourth quarter, causing us to shut down our operations for five days near the end of September and also affected our suppliers especially hard. As a consequence, we were unable to deliver a $1.1 million slimhole seismic system scheduled for shipment in September. The system was subsequently delivered in October, 2005,” Owens continued.

“For the year, we experienced significant growth from our Russian and Canadian operations. Our Russian operation especially contributed to the year’s performance with a 60% increase in revenues and a 124% increase in operating profits compared with the prior fiscal year. Additional capital investments are planned for our Russian operation, and it is our goal to open a new cable manufacturing operation in Russia in the middle of fiscal year 2006.  In addition, on October 11, 2005, we completed the purchase of the remaining three percent minority ownership interest in our Russian subsidiary from Chori Co., Ltd.,” said Owens.

“We begin FY 2006 with strong backlog due to increased demand for our seismic exploration products and due to the effect of a delayed borehole system shipment caused by Hurricane Rita.  Our strong backlog includes a $7.6 million contract to supply a permanent subsea reservoir characterization system for another BP field in the North Sea. We expect to deliver this system in March or April of 2006.  We also are awaiting the outcome of other tenders to deliver permanent and retrievable subsea systems in fiscal year 2006. We are hopeful that fiscal year 2006 will be a very good year for our seismic reservoir products,” said Owens.

“At the November 2005 Society of Exploration Geophysicists industry trade show in Houston, we introduced our new slimhole seismic data acquisition system, a new line of retrievable and permanent seismic borehole systems which expands our seismic reservoir product line. We delivered our first system in October 2005 and understand it has performed exceptionally well,” Owens continued.

“We continued the development of our non-seismic sensor and cable products and capabilities in fiscal 2005. We expect to invest further in these areas with the goal of broadening our customer base and production capabilities in fiscal 2006.  It is our expectation that industry investment into deepwater production facilities in the coming years should provide us with good growth opportunities for this market,” continued Owens.

“Revenues for our thermal solutions business segment rose slightly in fiscal 2005 but its profitability dropped in part due to expenses associated with the relocation of our acquired printhead production assets and personnel to our new cleanroom in Houston. This purchase and relocation of the printhead production operation will help us achieve improvements in printhead quality, one of our major goals for this business segment. Fiscal 2006 will be a year of further development for our thermal solutions business.” continued Owens.

OYO Geospace designs and manufactures instruments and equipment used by the oil and gas industry in the acquisition and processing of seismic data as well as in reservoir characterization and monitoring activities. The company also designs and manufactures equipment and film for the thermal printing industry worldwide.

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included herein including statements regarding potential future products and markets, our potential future revenues, future financial position, business strategy, future expectations and other plans and objectives for future operations, are forward-looking statements. We believe our forward-looking statements are reasonable. However, they are based on certain assumptions about our industry and our business that may in the future prove to be inaccurate. Important factors that could cause actual results to differ materially from our expectations include the level of seismic exploration worldwide, which is influenced primarily by prevailing prices for oil and gas, the extent to which our new products are accepted in the market, the availability of competitive products that may be more technologically advanced or otherwise preferable to our products, the resolution of the situation in the Middle East and other factors disclosed under the heading “Risk Factors” and elsewhere in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are on file with the Securities end Exchange Commission. Further, all written and verbal forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such factors.

M O R E