OYO Geospace - More Than Meets The Eye

Houston, Texas – December 7, 2007 – OYO Geospace (NASDAQ: OYOG) today announced net income of $19.6 million, or $3.23 per diluted share, on revenues of $138.1 million for its fiscal year ended September 30, 2007. This compares with a net income of $9.8 million, or $1.64 per diluted share, on revenues of $103.7 million for the prior fiscal year.

For the fourth quarter ended September 30, 2007, OYO Geospace recorded sales of $30.8 million and net income of $4.9 million, or $0.81 per diluted share. For the comparable period last year, the company recorded sales of $29.0 million and a net income of $3.5 million, or $0.58 per diluted share.

“We have just reported the best annual financial performance in our company’s history. Increased demand by oil and gas companies for seismic services fueled increased demand for our seismic exploration products. Our seismic reservoir characterization technologies were also in high demand in fiscal year 2007, which included the sale of a large seabed data acquisition system for BP’s Azeri complex in the Caspian Sea, the sale in our fourth fiscal quarter of additional retrievable seabed cables to augment the Bureau of Geophysical Prospecting’s (BGP) existing system and increased demand for our seismic borehole data acquisition products. Our emerging technology products, including offshore cables, industrial cables and industrial sensors also generated record revenues during the fiscal year,” said Gary D. Owens, OYO Geospace’s Chairman, President and CEO.

“We also delivered outstanding financial results in our fiscal fourth quarter. In addition to continued strong demand for our seismic exploration products, a significant contributor to the fourth quarter’s performance was a $3.1 million sale of a 15 kilometer retrievable seabed system to complement BGP’s existing $7.0 million retrievable seabed system which we sold to BGP in last year’s fourth fiscal quarter. Demand for our seismic borehole technologies remained strong during the quarter which resulted in, among others, a sale of a borehole system to a multi-national oilfield service provider,” continued Owens. Mr. Owens noted, however, that the company expects that its quarterly results of operations will continue to fluctuate significantly and are particularly affected by the presence or absence of large sales of seismic reservoir monitoring products, including borehole systems in a specific quarter.

“As previously announced, our fourth fiscal quarter results include the partial sale of a surplus property formerly used by our Russian subsidiary for manufacturing purposes. The property was vacated several years ago when we relocated our Russian manufacturing operations to a larger and better equipped facility in the same city of Ufa. As a result of this partial sale, we recorded a pretax gain of $1.7 million, or $0.21 per diluted share. We expect to sell our remaining ownership in this surplus property in the coming months,” said Owens.

“During the final week of September 2007, the seismic industry held its annual meeting and exhibition in San Antonio, Texas. At the exhibition, we introduced our new land seismic data acquisition system: the Geospace Seismic Recorder (“GSR”). The GSR is a wireless autonomous recording system and is offered in four configurations to serve both the seismic exploration and seismic reservoir markets. We will begin manufacturing the GSR during the second quarter of fiscal year 2008. We believe the new GSR product line will significantly contribute towards our internal growth plans,” Owens continued.

“We completed the construction of our new 170,000 square foot expansion facility in Houston, including approximately 130,000 square feet of manufacturing space. During the next several months, we will continue assembling new cabling equipment and relocating our existing equipment into the new facility. This phase of our plant expansion will continue well into fiscal year 2008 and will proceed as fast as possible. The new expansion facility and equipment will allow us to increase our existing capacity on our existing product lines and provide the opportunity to focus on and introduce new products,” Owens continued.

“We continued the development of our non-seismic sensor and cable products and capabilities during fiscal year 2007. New products were added throughout the fiscal year which resulted in our addition of new customers who operate in markets we have not historically served. Compared to the prior year, sales of our offshore cable products grew 87% in fiscal year 2007 and are poised for another positive year of growth in fiscal year 2008. A portion of our new facility will be utilized to increase our offshore cable manufacturing capacity and capabilities in anticipation of projected growth into this market. Revenues from the sale of our industrial sensor and cable products grew 10% in fiscal year 2007, and we expect to introduce additional products targeted at the industrial market in fiscal year 2008, adding product diversity to our revenue growth in this area in the coming years,” continued Owens.

“Our thermal solutions product revenues increased slightly in fiscal year 2007 generating a 13% increase in operating profits for this portion of our business. We believe our new direct-to-screen technologies will again improve our performance in our thermal solutions business sector in the coming year,” continued Owens.

“We are proud of our fiscal year 2007 achievements and, with our increased manufacturing capacity, newly engineered products and the increasing acceptance of our proven technologies, we are encouraged about our future prospects given current market conditions,” 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 and 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 INTRODUCES WIRELESS LAND DATA ACQUISITION SYSTEM

Houston, Texas – September 28, 2007 – OYO Geospace (NASDAQ: OYOG) today announced the introduction of the Geospace Seismic Recorder (GSR), its new wireless land data acquisition system. The introduction was made during the meeting of the Society of Exploration Geophysicist in San Antonio earlier this week.

The GSR facilitates the recording of very large channel counts. The GSR is available in several configurations targeting the seismic exploration, seismic reservoir and non-seismic emerging markets. The individual cable-free field units are manufactured in 1, 2, 3 and 4 channel capacities. The new system will be available in the first quarter of 2008.

“Our first system introduction for the land data acquisition system market is an exciting event for the company,” said Gary D. Owens, OYO Geospace’s Chairman, President & CEO. “This new product line provides the company additional ways to generate revenue and profits. We were very encouraged by its reception from the industry during the SEG Meeting.” Owens continued.

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 timing of large orders and shipments pursuant to such orders, 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 and 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 YEAR 2007 THIRD QUARTER RESULTS

Houston, Texas – August 3, 2007 – OYO Geospace (NASDAQ: OYOG) today announced net income of $3.7 million, or $0.60 per diluted share, on revenues of $30.5 million for its third quarter ended June 30, 2007. This compares with net income of $3.4 million, or $0.57 per diluted share, on revenues of $30.1 million in the comparable quarter last year.

For the nine months ended June 30, 2007, OYO Geospace recorded sales of $107.4 million and net income of $14.7 million, or $2.42 per diluted share. For the comparable period last year, the company recorded sales of $74.7 million and a net income of $6.3 million, or $1.06 per diluted share. The company noted that its results for the quarter and for the nine months ended June 30, 2006, benefited from the recognition of the sale of an $8.0 million seismic reservoir monitoring system to BP for installation in the North Sea – the kind of large product sale that does not necessarily recur in every subsequent quarter.

“We experienced strong worldwide demand for our seismic exploration products in the third quarter of 2007,” said Gary D. Owens, OYO Geospace’s Chairman, President and CEO. “Demand was strong in both our land and marine products and across most of our international markets, although we are seeing some decline in our backlog for these products. Our third quarter results were favorably impacted by the sale of a $3.0 million seismic borehole system for use in the U.S. market. We received this order late in the third quarter and we have expectations of booking several smaller borehole system orders in the fourth quarter,” Owens continued.

“Our seismic borehole systems have been well-received by the marketplace and we are pleased with the increasing acceptance of this suite of reservoir imaging products. However, as we have said in the past, our sales and operating profits have varied significantly from quarter-to-quarter, and even year-to-year, and are expected to continue that trend in the future, especially when our quarterly financial results are impacted by the presence or absence of these relatively large, but somewhat erratic, shipments of seismic borehole and/or seabed data acquisition systems. At present, we do not have any large orders for these reservoir characterization products in our product backlog, although, we are optimistic about a number of on-going negotiations with customers concerning these products. We are working hard to close certain of these negotiations in the fourth quarter, but we cannot now determine what impact, if any, these potential orders may have on our fourth quarter or on future quarters. The quote-to-contract time for large permanent and retrievable seabed seismic data acquisition systems is generally quite long, and since these sales are not recognized until the products are shipped, the exact timing of any future sales can dramatically affect our quarterly results,” Owens said.

“OYO-GEO Impulse International, our subsidiary in the Russian Federation, is concluding a series of transactions to sell a surplus property formerly used for manufacturing purposes. Upon conclusion of these transactions, we expect to recognize a pretax gain of approximately $2.0 million. It is possible that these transactions could be concluded totally or partially in our fiscal fourth quarter,” said Owens.

“Sales of our non-seismic offshore cables and industrial products grew throughout the year. Customer backlog for these products increased, although still relatively small compared to our overall product mix. Quarterly profits from our thermal solutions products also grew this quarter, and new product introductions are scheduled for early in the next fiscal year,” said Owens.

“Our move into our newly built manufacturing facility is underway. This transition phase is expected to last for several months in order to minimize any interruption to our existing production schedule. The new space and capacity will be a welcomed and needed addition to our capabilities,” continued Owens.

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 timing of large orders and shipments pursuant to such orders, 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 and 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 YEAR 2007 SECOND QUARTER RESULTS

Houston, Texas – May 9, 2007 – OYO Geospace (NASDAQ: OYOG) today announced net income of $3.1 million, or $0.52 per diluted share, on revenues of $32.1 million for its second quarter ended March 31, 2007. This compares with net income of $1.6 million, or $0.26 per diluted share, on revenues of $22.7 million in the comparable quarter last year.

For the six months ended March 31, 2007, OYO Geospace recorded sales of $76.8 million and net income of $11.0 million, or $1.82 per diluted share. For the comparable period last year, the company recorded sales of $44.6 million and a net income of $2.8 million, or $0.48 per diluted share.

“Strong worldwide demand for seismic equipment resulted in record shipments of our seismic exploration products in the second quarter,” said Gary D. Owens, OYO Geospace’s Chairman, President and CEO. “Demand for our seismic exploration products showed gains in the quarter, and seismic exploration product demand in our Canadian and Russian markets also improved over the comparable period of the prior fiscal year. Backlog for these products remains strong,” said Owens.

“We are very satisfied with these quarterly results, especially since we experienced a relatively low level of seismic reservoir product sales, which generally contain better margins. To generate this level of revenue and earnings on mostly seismic exploration products demonstrates the busy condition of our industry. We are pursuing a retrievable seismic seabed cable order and several seismic borehole system orders for possible delivery this fiscal year. In addition, we are pursuing future prospects for both permanent seismic seabed systems and borehole systems for next year. We are working hard to close these transactions,” Owens said.

“Our non-seismic offshore cables and industrial products continue to show healthy revenue growth and demand. Our thermal solutions product sales and operating profits were up sequentially for the quarter, although down slightly from last year’s second quarter. We are continuing our initiatives to introduce new thermal solutions products and improve existing ones,” said Owens.

“We expect to occupy our new building in the coming days, and then immediately begin the transition of moving existing and new equipment into this facility. This transition is expected to last for several months in order to minimize any interruption to our existing production schedule. The new space and capacity will be a welcome addition to our Houston-based facility,” continued Owens.

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 2007 FIRST QUARTER RESULTS

Company Reports Record Quarterly Revenues and Profits

Houston, Texas – February 7, 2007 – OYO Geospace (NASDAQ: OYOG) today announced net income of $7.8 million, or $1.30 per diluted share, on revenues of $44.8 million for its quarter ended December 31, 2006. This compares with net income of $1.3 million, or $0.22 per diluted share, on revenues of $21.9 million in the comparable quarter last year.

“Results for the quarter were fueled by the recognition of revenue from the sale of two seismic reservoir characterization systems along with continued strong demand for our seismic exploration products,” said Gary D. Owens, OYO Geospace’s Chairman, President and CEO. “For the quarter, the company recognized revenues of $16.2 million from the sale of a reservoir characterization system for the monitoring of BP-operated fields located in the Caspian Sea. The quarter also includes the recognition of $0.7 million in revenue from the sale of a retrievable seabed seismic data acquisition system sold to the Bureau of Geophysical Prospecting (“BGP”), a Chinese seismic service contractor. The $0.7 million in revenue from the BGP sale represents the final amount earned by the company for a system delivered in fiscal year 2006,” said Owens.

“The first construction phase of our Houston facility expansion is nearing completion; however, wet weather has created some delays. With the roof nearing completion, we expect to spend the next few months completing the interior of the facility and installing new manufacturing equipment. We look forward to having the added space and capacity,” continued Owens.

“Our core seismic exploration business was exceptionally strong in the quarter. We experienced strong demand for both land and marine-based products. We also experienced revenue gains from our non-seismic sensor and cable products. Our Houston facility expansion will add much needed manufacturing capacity for these product lines,” said Owens.

“The backlog for our seismic exploration products remains strong. We continue to work with customers on new reservoir characterization prospects that we hope to close in the near future. Our non-seismic sensor and cable product lines also have a healthy backlog and we believe have bright prospects for the rest of the year,” Owens said.

“Our thermal solutions product revenues increased almost 18% from last year, including the first sale of our new direct-to-screen imager during the quarter. This segment posted a small operating loss for the quarter and is currently performing well below our expectations. We believe on-going product improvement efforts, new product introductions, supplier changes, manufacturing process improvements and additional space from our new facility will yield gradual improvements in the financial results for this segment throughout the fiscal year,” Owens said.

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.