Geospace Technologies (GEOS) 10-Q 8 May 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Mar. 31, 2014	Apr. 30, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'GEOS	'
Entity Registrant Name	'GEOSPACE TECHNOLOGIES CORP	'
Entity Central Index Key	'0001001115	'
Current Fiscal Year End Date	'--09-30	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	13,135,416

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$44,340	$2,726
Trade accounts receivable, net	50,939	49,756
Current portion of notes receivable, net	2,808	5,290
Inventories, net	144,419	149,548
Costs and estimated earnings in excess of billings	'	12,400
Deferred income tax assets	6,885	7,056
Prepaid expenses and other current assets	6,503	6,327
Total current assets	255,894	233,103
Rental equipment, net	53,122	36,908
Property, plant and equipment, net	49,865	48,480
Goodwill	1,843	1,843
Non-current deferred income tax assets	214	594
Prepaid income taxes	7,151	6,201
Other assets	105	96
Total assets	368,194	327,225
Current liabilities:	'	'
Accounts payable trade	14,231	16,737
Accrued expenses and other current liabilities	15,190	16,638
Deferred revenue	6,742	1,093
Deferred income tax liabilities	49	12
Income taxes payable	4,271	159
Total current liabilities	40,483	34,639
Long-term debt	'	931
Non-current deferred income tax liabilities	1,891	2,597
Total liabilities	42,374	38,167
Commitments and contingencies	'	'
Stockholders’ equity:	'	'
Preferred stock	'	'
Common stock	131	129
Additional paid-in capital	68,792	65,985
Retained earnings	259,000	224,008
Accumulated other comprehensive loss	-2,103	-1,064
Total stockholders’ equity	325,820	289,058
Total liabilities and stockholders’ equity	$368,194	$327,225

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Sales	$68,551	$76,420	$169,899	$154,171
Cost of sales	40,648	40,859	94,904	78,065
Gross profit	27,903	35,561	74,995	76,106
Operating expenses:	'	'	'	'
Selling, general and administrative	6,554	5,899	13,256	11,262
Research and development	5,097	3,768	9,472	7,133
Bad debt expense	296	338	644	607
Total operating expenses	11,947	10,005	23,372	19,002
Income from operations	15,956	25,556	51,623	57,104
Other income (expense):	'	'	'	'
Interest expense	-103	-48	-235	-130
Interest income	25	230	56	459
Foreign exchange gains (losses)	101	-714	80	-668
Other, net	-12	'	-38	-19
Total other income (expense), net	11	-532	-137	-358
Income before income taxes	15,967	25,024	51,486	56,746
Income tax expense	5,151	8,155	16,494	17,864
Net income	$10,816	$16,869	$34,992	$38,882
Basic earnings per share	$0.83	$1.31	$2.68	$3.02
Diluted earnings per share	$0.82	$1.30	$2.66	$3.01
Weighted average shares outstanding – Basic	12,950,416	12,882,396	12,948,788	12,854,858
Weighted average shares outstanding – Diluted	13,002,383	12,955,566	13,001,075	12,924,014

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Net income	$10,816	$16,869	$34,992	$38,882
Other comprehensive income (loss):	'	'	'	'
Change in unrealized gain on available-for-sale securities (net of tax)	'	-11	'	-17
Foreign currency translations adjustments	-942	-147	-1,039	156
Other comprehensive income (loss)	-942	-158	-1,039	139
Total comprehensive income	$9,874	$16,711	$33,953	$39,021

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net income	$34,992	$38,882
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Deferred income tax (benefit) expense	-676	1,084
Depreciation	8,662	5,857
Amortization	'	80
Accretion of discounts on short-term-investments	'	160
Stock-based compensation	1,935	347
Bad debt expense	644	607
Inventory obsolescence expense (recovery)	1,717	-186
Gross profit from the sale of used rental equipment	-5,466	-9,062
(Gain) loss on disposal of property, plant and equipment	-58	14
Realized gain on short-term investments	'	-6
Effects of changes in operating assets and liabilities:	'	'
Trade accounts and notes receivable	337	-21,188
Inventories	-3,987	-31,428
Costs and estimated earnings in excess of billings	12,400	-11,309
Other current assets	306	-4,710
Prepaid income taxes	-950	-2,034
Accounts payable	-2,496	1,735
Accrued expenses and other	-1,346	-2,350
Deferred revenue	5,672	-8,461
Income taxes payable	4,117	-587
Net cash provided by (used in) operating activities	55,803	-42,555
Cash flows from investing activities:	'	'
Purchase of property, plant and equipment	-4,379	-8,244
Investment in rental equipment	-18,309	-17,673
Proceeds from sale of used rental equipment	8,551	17,074
Purchases of short-term investments	'	-1,587
Proceeds from the sale of short-term investments	'	10,672
Net cash (used in) provided by investing activities	-14,137	242
Cash flows from financing activities:	'	'
Principal payments on debt arrangements	-931	'
Excess tax benefit from stock-based compensation	661	2,948
Proceeds from exercise of stock options	212	917
Net cash (used in) provided by financing activities	-58	3,865
Effect of exchange rate changes on cash	6	4
Increase (decrease) in cash and cash equivalents	41,614	-38,444
Cash and cash equivalents, beginning of period	2,726	50,752
Cash and cash equivalents, end of period	$44,340	$12,308

Significant_Accounting_Policie

Significant Accounting Policies	6 Months Ended
	Mar. 31, 2014
Significant Accounting Policies	'
	1. Significant Accounting Policies
	Basis of Presentation
	The consolidated balance sheet of Geospace Technologies Corporation and its subsidiaries (the “Company”) at September 30, 2013 was derived from the Company’s audited consolidated financial statements at that date. The consolidated balance sheet at March 31, 2014 and the consolidated statements of operations and statements of comprehensive income for the three and six months ended March 31, 2014 and 2013, and the consolidated statements of cash flows for the six months ended March 31, 2014 and 2013 were prepared by the Company without audit. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the consolidated financial position, results of operations and cash flows were made. The results of operations for the three and six months ended March 31, 2014 are not necessarily indicative of the operating results for a full year or of future operations.
	Certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generally accepted in the United States of America were omitted. The accompanying consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended September 30, 2013.
	Reclassifications
	Certain amounts previously presented in the consolidated financial statements may have been reclassified to conform to the current year presentation. Such reclassifications, if any, had no effect on net income, stockholders’ equity or cash flows.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company considers many factors in selecting appropriate operational and financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. The Company continually evaluates its estimates, including those related to bad debt reserves, inventory obsolescence reserves, percentage-of-completion revenue recognition, self-insurance reserves, product warranty reserves, long-lived assets, intangible assets and deferred income tax assets. The Company bases its estimates on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different conditions or assumptions.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments purchased with an original or remaining maturity at the time of purchase of three months or less to be cash equivalents.
	Short-term Investments
	The Company classifies its short-term investments consisting of corporate bonds, government bonds and other such similar investments as available-for-sale securities. Available-for-sale securities are carried at fair market value with net unrealized holding gains and losses reported each period as a component of comprehensive income in stockholders’ equity. At September 30, 2013 and March 31, 2014, the Company did not hold any short-term investments.
	Inventories
	The Company records a write-down of its inventories when the cost basis of any manufactured product, including any estimated future costs to complete the manufacturing process, exceeds its net realizable value. Inventories are stated at the lower of cost or market value. Cost is determined on the first-in, first-out method, except that the Company’s subsidiary in the Russian Federation uses an average cost method to value its inventories.
	Revenue Recognition – Products and Services
	The Company primarily derives revenue from the sale of its manufactured products, including revenues derived from the sale of its manufactured rental equipment. In addition, the Company generates revenue from the short-term rental under operating leases of its manufactured products. Except for revenues recognized using the percentage-of-completion method discussed below, the Company recognizes revenue from product sales, including the sale of used rental equipment, when (i) title passes to the customer, (ii) the customer assumes risks and rewards of ownership, (iii) the product sales price has been determined, (iv) collectability of the sales price is reasonably assured, and (v) product delivery occurs as directed by the customer. Except for certain of the Company’s reservoir characterization products, the Company’s products are generally sold without any customer acceptance provisions and the Company’s standard terms of sale do not allow customers to return products for credit. The Company recognizes rental revenues as earned over the rental period. Rentals of the Company’s equipment generally range from daily rentals to rental periods of up to six months or longer. Revenues from engineering services are recognized as services are rendered over the duration of a project, or as billed on a per hour basis. Field service revenues are recognized when services are rendered and are generally priced on a per day rate.
	Revenue Recognition – Percentage of Completion
	The Company utilizes the percentage-of-completion method (the “POC Method”) to recognize revenues and costs on contracts having the following characteristics:
	—	the order/contract requires significant custom designs for customer specific applications;
	—	the product design requires significant engineering efforts;
	—	the order/contract requires the customer to make progress payments during the contract term, and;
	—	the order/contract requires at least 90 days of engineering and manufacturing effort.
	The POC Method requires the Company’s senior management to make estimates, at least quarterly, of the (i) total expected costs of the contract, (ii) manufacturing progress against the contract and (iii) the estimated cost to complete the contract. These estimates impact the amount of revenue and gross profit the Company recognizes for each reporting period. Significant estimates that may affect the future cost to complete a contract include the cost and availability of raw materials and component parts, engineering services, manufacturing equipment, labor, manufacturing capacity, factory productivity, contract penalties and disputes, product warranties and other contingent factors. Change orders are included in the total estimated contract revenue when it is probable that the change order will result in additional value that can be reliably estimated and realized. The Company defers recognition of the entire amount of revenue or portion thereof associated with unapproved change orders if there is substantial uncertainty as to amounts involved or ultimate realization. The cumulative impact of periodic revisions to the future cost to complete a contract will be reflected in the period in which these changes become known, including, to the extent required, the recognition of losses at the time such losses are known and estimable. Due to the various estimates inherent in the POC Method, actual final results at the conclusion of a contract could differ from management’s previous estimates.
	The Company analyzes a variety of indicators to determine manufacturing progress, including actual costs incurred to date compared to total estimated costs and actual quantities produced to date compared to total contract quantities.
	Cost of sales includes direct contract costs, such as materials and labor, and indirect costs that are attributable to a contract’s production activity. The timing of when the Company invoices its customer is dependent upon the completion of certain production milestones as defined in the contract. Cumulative contract costs and estimated earnings to date in excess of cumulative billings are reported as a current asset on the consolidated balance sheet as “costs and estimated earnings in excess of billings.” Cumulative billings in excess of cumulative costs and estimated earnings are included in accrued and other liabilities on the consolidated balance sheet. Any uncollected billed revenue, including contract retentions, is included in trade accounts receivable, net.
	Research and Development Costs
	The Company expenses research and development costs as incurred. Research and development costs include salaries, employee benefit costs, department supplies, direct project costs and other related costs.
	Product Warranties
	Most of the Company’s products do not require installation assistance or sophisticated instructions. The Company offers a standard product warranty obligating it to repair or replace equipment with manufacturing defects. The Company maintains a reserve for future warranty costs based on historical experience or, in the absence of historical product experience, management’s estimates. Reserves for future warranty costs are included within accrued expenses and other current liabilities on the consolidated balance sheets. Changes in the warranty reserve are reflected in the following table (in thousands):
	Balance at October 1, 2013		$	1,952
	Accruals for warranties issued during the period			69
	Settlements made (in cash or in kind) during the period			(593	)
	Balance at March 31, 2014		$	1,428

Derivative_Financial_Instrumen

Derivative Financial Instruments

6 Months Ended

Mar. 31, 2014

Derivative Financial Instruments

'

2. Derivative Financial Instruments

At March 31, 2014, the Company’s Canadian subsidiary had $40.1 million of Canadian dollar denominated intercompany accounts payable owed to the Company’s U.S. subsidiaries. In order to mitigate its exposure to movements in foreign currency rates between the U.S. dollar and Canadian dollar, the Company routinely enters into foreign currency forward contracts to hedge a portion of its exposure to changes in the value of the Canadian dollar. At March 31, 2014, the Company was a party to a $32.0 million foreign currency forward contract. This contract reduces the impact on cash flows from movements in the Canadian dollar/U.S. dollar currency exchange rate. At March 31, 2014, the Company had accrued unrealized foreign exchange losses of $0.3 million under this contract.

The following table summarizes the gross fair value of all derivative instruments, which are not designated as hedging instruments and their location in the consolidated balance sheets (in thousands):

Derivative Instrument

Location

March 31, 2014

September 30, 2013

Foreign Currency Exchange Contracts

Accrued Expenses

$

254

$

351

The following table summarizes the impact of the Company’s derivatives on the consolidated statements of operations for the three and six month periods ended March 31, 2014 and 2013 (in thousands):

Location of (Loss)

Three Months Ended

Six Months Ended

Gain on Derivative

March 31

31-Mar

Derivative Instrument

Instrument

2014

2013

2014

2013

Foreign Currency Exchange Contracts

Other Income (Expense)

$

1,255

$         (58

)

$      2,117

$       155

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Mar. 31, 2014
Fair Value of Financial Instruments	'
	3. Fair Value of Financial Instruments
	At March 31, 2014, the Company’s financial instruments included cash and cash equivalents, trade and other receivables, other current assets, accounts payable, other current liabilities and long-term debt. Due to the short-term maturities of cash and cash equivalents, trade and other receivables, other current assets, accounts payable, other current liabilities and long-term debt, the carrying amounts approximate fair value on the respective balance sheet dates.
	The Company measures derivatives at fair value on a recurring basis.
	The fair value measurement of the Company’s foreign currency forward contract was determined using the following inputs:
		As of March 31, 2014 (in thousands)
		Total			Quoted Prices in		Significant			Significant
					Active Markets for		Other			Unobservable
					Identical Assets		Observable			(Level 3)
					(Level 1)		(Level 2)
	Foreign currency forward contract	$	(254	)	$	—	$	(254	)	$	—
	Total	$	(254	)	$	—	$	(254	)	$	—
		As of September 30, 2013 (in thousands)
		Total			Quoted Prices in		Significant			Significant
					Active Markets for		Other			Unobservable
					Identical Assets		Observable			(Level 3)
					(Level 1)		(Level 2)
	Foreign currency forward contract	$	(351	)	$	—	$	(351	)	$	—
	Total	$	(351	)	$	—	$	(351	)	$	—

StockBased_Compensation

Stock-Based Compensation	6 Months Ended
	Mar. 31, 2014
Stock-Based Compensation	'
	4. Stock-Based Compensation:
	On November 21, 2013, the Company issued 184,000 shares of restricted stock under the 1997 Key Employee Stock Option Plan (as amended, the “1997 Plan”). The fair value of the Company’s common stock on the date of grant was $98.68 per share, and the unrecognized compensation cost on the date of grant related to these awards, net of estimated forfeitures, was $17.3 million and will be charged to expense over four years as the restrictions lapse. Under the terms of the 1997 Plan, recipients of restricted stock awards are entitled to vote such shares and are entitled to dividends if paid.
	On February 6, 2014, the Company issued 3,000 shares of restricted stock under the 2014 Long Term Incentive Plan (as amended, the “2014 Plan”).  The fair value of the Company’s common stock on the date of grant was $69.96 per share, and the unrecognized compensation cost on the date of grant related to these awards, net of estimated forfeitures, was $0.2 million and will be charged to expense over four years as the restrictions lapse.  Under the terms of the 2014 Plan, recipients of restricted stock awards are entitled to vote such shares and are entitled to dividends if paid.
	During the six months ended March 31, 2014, 4,000 shares of restricted stock were forfeited.
	Compensation expense for restricted stock awards are determined based on the closing market price of the Company’s stock on the date of grant applied to the total number of shares that are anticipated to fully vest. As of March 31, 2014, we had unrecognized compensation expense of approximately $15.4 million related to restricted stock awards.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	6 Months Ended
	Mar. 31, 2014
Accumulated Other Comprehensive Loss	'
	5. Accumulated Other Comprehensive Loss:
	Accumulated other comprehensive income (loss) consisted of the following (in thousands):
		Foreign
		Currency
		Translation
		Adjustments
	Balance at September 30, 2013	$	(1,064	)
	Foreign currency translation adjustments during the period		(1,039	)
	Balance at March 31, 2014	$	(2,103	)

Inventories

Inventories	6 Months Ended
	Mar. 31, 2014
Inventories	'
	6. Inventories
	Inventories consist of the following (in thousands):
		March 31, 2014			September 30, 2013
	Finished goods	$	31,740		$	44,391
	Work-in-process		24,085			25,156
	Raw materials		96,363			86,933
	Obsolescence reserve		(7,769	)		(6,932	)
		$	144,419		$	149,548
	During the six months ended March 31, 2014 and 2013 the Company made non-cash transfers of $6.9 million and $4.1 million, respectively, of inventories to its rental equipment fleet.

Percentage_of_Completion

Percentage of Completion	6 Months Ended
	Mar. 31, 2014
Percentage of Completion	'
	7. Percentage of Completion
	The Company utilizes the POC Method to recognize revenues under a contract with a customer. In the consolidated balance sheets “costs and estimated earnings in excess of billings” are reported as a current asset and “billings in excess of costs and estimated earnings” are included in accrued and other liabilities as follows (in thousands):
		March 31, 2014			September 30, 2013
	Contract revenues earned to date	$	164,522		$	109,565
	Less contract billings to date		(164,978	)		(97,165	)
	Billings in excess of costs and estimated earnings	$	(456	)	$	—
	Costs and estimated earnings in excess of billings	$	—		$	12,400

Accounts_and_Notes_Receivable

Accounts and Notes Receivable	6 Months Ended
	Mar. 31, 2014
Accounts and Notes Receivable	'
	8. Accounts and Notes Receivable
	Current trade accounts are reflected in the following table (in thousands):
		March 31, 2014			September 30, 2013
	Trade accounts receivable	$	51,981		$	50,132
	Allowance for doubtful accounts		(1,042	)		(376	)
		$	50,939		$	49,756
	The allowance for doubtful accounts represents the Company’s best estimate of probable credit losses. The Company determines the allowance based upon historical experience and a review of its balances. Accounts receivable balances are charged off against the allowance whenever it is probable that the receivable will not be recoverable. The Company does not have any off-balance-sheet credit exposure related to its customers.
	Notes receivable are reflected in the following table (in thousands):
		March 31, 2014			September 30, 2013
	Notes receivable	$	2,808		$	5,290
	Allowance for doubtful notes		—			—
			2,808			5,290
	Less current portion		2,808			5,290
		$	—		$	—

LongTerm_Debt

Long-Term Debt	6 Months Ended
	Mar. 31, 2014
Long-Term Debt	'
	9. Long-Term Debt
	Long-term debt consisted of the following (in thousands):
		March 31, 2014		September 30, 2013
	Working capital line of credit	$	—	$	931
	Less current portion		—		—
		$	—	$	931
	On March 2, 2011, the Company entered into a credit agreement with a bank. On September 27, 2013, the Company amended the credit agreement and increased its borrowing availability to $50.0 million (as amended, the “Credit Agreement”). The Company’s borrowings are principally secured by its accounts receivable, inventories and equipment. In addition, certain domestic subsidiaries of the Company have guaranteed the obligations of the Company under the Credit Agreement and such subsidiaries have secured the obligations by the pledge of certain of the assets of such subsidiaries. The Credit Agreement expires on April 27, 2016 and all borrowed funds are due and payable at that time. The Company is required to make quarterly interest payments on borrowed funds. The Credit Agreement limits the incurrence of additional indebtedness, requires the maintenance of certain financial ratios, restricts the Company and its subsidiaries’ ability to pay cash dividends and contains other covenants customary in agreements of this type. The interest rate for borrowings under the Credit Agreement is a LIBOR based rate with a margin spread of 250 to 325 basis points depending upon the maintenance of certain ratios. At March 31, 2014, the Company was in compliance with all covenants. At March 31, 2014, there were no borrowings outstanding under the Credit Agreement. At September 30, 2013 and March 31, 2014, there were standby letters of credit outstanding in the amount of $42,000 and zero, respectively. Additional borrowings available under the Credit Agreement at March 31, 2014 were $50.0 million.

Earnings_Per_Common_Share

Earnings Per Common Share	6 Months Ended
	Mar. 31, 2014
Earnings Per Common Share	'
	10. Earnings Per Common Share
	In connection with the issuances of restricted stock during fiscal year 2014, the Company applied the two-class method in calculating per share data for the three and six months ended March 31, 2014. The following table summarizes the calculation of net earnings and weighted average common shares and common equivalent shares outstanding for purposes of the computation of earnings per share (in thousands, except share and per share data):
		Three Months Ended					Six Months Ended
		March 31, 2014			March 31, 2013		March 31, 2014			March 31, 2013
	Net income	$	10,816		$	16,869	$	34,992		$	38,882
	Less: Income allocable to unvested restricted stock		(109	)		—		(353	)		—
	Income available to common shareholders		10,707		$	16,869		34,639		$	38,882
			—			—		1			—
	Reallocation of participating earnings
		$	10,707		$	16,869	$	34,640		$	38,882
	Diluted income attributable to common
	shareholders
	Weighted average number of common share equivalents:
	Common shares used in basic earnings per share		12,950,416			12,882,396		12,948,788			12,854,858
	Common share equivalents outstanding related to stock options		51,967			73,170		52,287			69,156
			13,002,383			12,955,566		13,001,075			12,924,014
	Total weighted average common shares and common share equivalents used in diluted earnings per share
	Basic earnings per common share	$	0.83		$	1.31	$	2.68		$	3.02
	Diluted earnings per common share	$	0.82		$	1.3	$	2.66		$	3.01
	There were no stock options excluded from the computation of weighted average shares outstanding due to anti-dilution.

Segment_Information

Segment Information	6 Months Ended
	Mar. 31, 2014
Segment Information	'
	11. Segment Information
	The Company’s Seismic product lines include land and marine wireless data acquisition systems, seabed reservoir characterization products and services, geophones and geophone strings, hydrophones, leader wire, connectors, telemetry cables, marine streamer retrieval and steering devices and various other products. The Non-Seismic product lines include thermal imaging products and industrial products. The Company typically has a minor amount of Seismic product sales to its Non-Seismic customers.
	The following table summarizes the Company’s segment information (in thousands):
		Three Months Ended						Six Months Ended
		March 31, 2014			March 31, 2013			March 31, 2014			March 31, 2013
	Net sales:
	Seismic	$	63,703		$	69,758		$	158,930		$	141,842
	Non-Seismic		4,795			6,444			10,707			11,911
	Corporate		53			218			262			418
	Total	$	68,551		$	76,420		$	169,899		$	154,171
	Income (loss) from operations:
	Seismic	$	19,473		$	27,842		$	58,016		$	61,803
	Non-Seismic		263			892			1,037			1,357
	Corporate		(3,780	)		(3,178	)		(7,430	)		(6,056	)
	Total	$	15,956		$	25,556		$	51,623		$	57,104

Income_Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2014
Income Taxes	'
	12. Income Taxes
	The United States statutory tax rate for the three and six months ended March 31, 2014 and 2013 was 35%. The Company’s effective tax rates for the three months ended March 31, 2014 and 2013 were 32.3% and 32.6%, respectively. The Company’s effective tax rates for the six months ended March 31, 2014 and 2013 were 32.0% and 31.5%, respectively. Compared to the United States statutory rate of 35%, the Company’s lower effective tax rates for each of the periods ended March 31, 2014 and 2013 primarily resulted from a manufacturers’/producers’ deduction available to U.S. manufacturers.
	From time to time the Company is the subject of audits by various tax authorities that can result in claims and assessments and additional tax payments, penalties and interest. The United States Internal Revenue Service (“IRS”) is in the process of conducting an audit of the Company’s United States Federal income tax returns for fiscal year 2012. Management believes that the outcome of such audit will not have a material effect on the Company’s financial position, results of operations or cash flows.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2014
Basis of Presentation	'
	Basis of Presentation
	The consolidated balance sheet of Geospace Technologies Corporation and its subsidiaries (the “Company”) at September 30, 2013 was derived from the Company’s audited consolidated financial statements at that date. The consolidated balance sheet at March 31, 2014 and the consolidated statements of operations and statements of comprehensive income for the three and six months ended March 31, 2014 and 2013, and the consolidated statements of cash flows for the six months ended March 31, 2014 and 2013 were prepared by the Company without audit. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the consolidated financial position, results of operations and cash flows were made. The results of operations for the three and six months ended March 31, 2014 are not necessarily indicative of the operating results for a full year or of future operations.
	Certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generally accepted in the United States of America were omitted. The accompanying consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended September 30, 2013.
Reclassifications	'
	Reclassifications
	Certain amounts previously presented in the consolidated financial statements may have been reclassified to conform to the current year presentation. Such reclassifications, if any, had no effect on net income, stockholders’ equity or cash flows.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company considers many factors in selecting appropriate operational and financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. The Company continually evaluates its estimates, including those related to bad debt reserves, inventory obsolescence reserves, percentage-of-completion revenue recognition, self-insurance reserves, product warranty reserves, long-lived assets, intangible assets and deferred income tax assets. The Company bases its estimates on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different conditions or assumptions.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	The Company considers all highly liquid investments purchased with an original or remaining maturity at the time of purchase of three months or less to be cash equivalents.
Short-term Investments	'
	Short-term Investments
	The Company classifies its short-term investments consisting of corporate bonds, government bonds and other such similar investments as available-for-sale securities. Available-for-sale securities are carried at fair market value with net unrealized holding gains and losses reported each period as a component of comprehensive income in stockholders’ equity. At September 30, 2013 and March 31, 2014, the Company did not hold any short-term investments.
Inventories	'
	Inventories
	The Company records a write-down of its inventories when the cost basis of any manufactured product, including any estimated future costs to complete the manufacturing process, exceeds its net realizable value. Inventories are stated at the lower of cost or market value. Cost is determined on the first-in, first-out method, except that the Company’s subsidiary in the Russian Federation uses an average cost method to value its inventories.
Revenue Recognition	'
	Revenue Recognition – Products and Services
	The Company primarily derives revenue from the sale of its manufactured products, including revenues derived from the sale of its manufactured rental equipment. In addition, the Company generates revenue from the short-term rental under operating leases of its manufactured products. Except for revenues recognized using the percentage-of-completion method discussed below, the Company recognizes revenue from product sales, including the sale of used rental equipment, when (i) title passes to the customer, (ii) the customer assumes risks and rewards of ownership, (iii) the product sales price has been determined, (iv) collectability of the sales price is reasonably assured, and (v) product delivery occurs as directed by the customer. Except for certain of the Company’s reservoir characterization products, the Company’s products are generally sold without any customer acceptance provisions and the Company’s standard terms of sale do not allow customers to return products for credit. The Company recognizes rental revenues as earned over the rental period. Rentals of the Company’s equipment generally range from daily rentals to rental periods of up to six months or longer. Revenues from engineering services are recognized as services are rendered over the duration of a project, or as billed on a per hour basis. Field service revenues are recognized when services are rendered and are generally priced on a per day rate.
	Revenue Recognition – Percentage of Completion
	The Company utilizes the percentage-of-completion method (the “POC Method”) to recognize revenues and costs on contracts having the following characteristics:
	—	the order/contract requires significant custom designs for customer specific applications;
	—	the product design requires significant engineering efforts;
	—	the order/contract requires the customer to make progress payments during the contract term, and;
	—	the order/contract requires at least 90 days of engineering and manufacturing effort.
	The POC Method requires the Company’s senior management to make estimates, at least quarterly, of the (i) total expected costs of the contract, (ii) manufacturing progress against the contract and (iii) the estimated cost to complete the contract. These estimates impact the amount of revenue and gross profit the Company recognizes for each reporting period. Significant estimates that may affect the future cost to complete a contract include the cost and availability of raw materials and component parts, engineering services, manufacturing equipment, labor, manufacturing capacity, factory productivity, contract penalties and disputes, product warranties and other contingent factors. Change orders are included in the total estimated contract revenue when it is probable that the change order will result in additional value that can be reliably estimated and realized. The Company defers recognition of the entire amount of revenue or portion thereof associated with unapproved change orders if there is substantial uncertainty as to amounts involved or ultimate realization. The cumulative impact of periodic revisions to the future cost to complete a contract will be reflected in the period in which these changes become known, including, to the extent required, the recognition of losses at the time such losses are known and estimable. Due to the various estimates inherent in the POC Method, actual final results at the conclusion of a contract could differ from management’s previous estimates.
	The Company analyzes a variety of indicators to determine manufacturing progress, including actual costs incurred to date compared to total estimated costs and actual quantities produced to date compared to total contract quantities.
	Cost of sales includes direct contract costs, such as materials and labor, and indirect costs that are attributable to a contract’s production activity. The timing of when the Company invoices its customer is dependent upon the completion of certain production milestones as defined in the contract. Cumulative contract costs and estimated earnings to date in excess of cumulative billings are reported as a current asset on the consolidated balance sheet as “costs and estimated earnings in excess of billings.” Cumulative billings in excess of cumulative costs and estimated earnings are included in accrued and other liabilities on the consolidated balance sheet. Any uncollected billed revenue, including contract retentions, is included in trade accounts receivable, net.
Research and Development Costs	'
	Research and Development Costs
	The Company expenses research and development costs as incurred. Research and development costs include salaries, employee benefit costs, department supplies, direct project costs and other related costs.
Product Warranties	'
	Product Warranties
	Most of the Company’s products do not require installation assistance or sophisticated instructions. The Company offers a standard product warranty obligating it to repair or replace equipment with manufacturing defects. The Company maintains a reserve for future warranty costs based on historical experience or, in the absence of historical product experience, management’s estimates. Reserves for future warranty costs are included within accrued expenses and other current liabilities on the consolidated balance sheets. Changes in the warranty reserve are reflected in the following table (in thousands):
	Balance at October 1, 2013		$	1,952
	Accruals for warranties issued during the period			69
	Settlements made (in cash or in kind) during the period			(593	)
	Balance at March 31, 2014		$	1,428

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	6 Months Ended
	Mar. 31, 2014
Changes in Warranty Reserve	'
	Most of the Company’s products do not require installation assistance or sophisticated instructions. The Company offers a standard product warranty obligating it to repair or replace equipment with manufacturing defects. The Company maintains a reserve for future warranty costs based on historical experience or, in the absence of historical product experience, management’s estimates. Reserves for future warranty costs are included within accrued expenses and other current liabilities on the consolidated balance sheets. Changes in the warranty reserve are reflected in the following table (in thousands):
	Balance at October 1, 2013	$	1,952
	Accruals for warranties issued during the period		69
	Settlements made (in cash or in kind) during the period		(593	)
	Balance at March 31, 2014	$	1,428

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)

6 Months Ended

Mar. 31, 2014

Gross Fair Value of all Derivative Instruments

'

The following table summarizes the gross fair value of all derivative instruments, which are not designated as hedging instruments and their location in the consolidated balance sheets (in thousands):

Derivative Instrument

Location

March 31, 2014

September 30, 2013

Foreign Currency Exchange Contracts

Accrued Expenses

$

254

$

351

Company's Derivatives on Condensed Consolidated Financial Statements of Operations

'

The following table summarizes the impact of the Company’s derivatives on the consolidated statements of operations for the three and six month periods ended March 31, 2014 and 2013 (in thousands):

Location of (Loss)

Three Months Ended

Six Months Ended

Gain on Derivative

March 31

31-Mar

Derivative Instrument

Instrument

2014

2013

2014

2013

Foreign Currency Exchange Contracts

Other Income (Expense)

$

1,255

$         (58

)

$      2,117

$       155

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2014
Fair Value Measurement of Company's Foreign Currency Forward Contracts	'
	The fair value measurement of the Company’s foreign currency forward contract was determined using the following inputs:
		As of March 31, 2014 (in thousands)
		Total			Quoted Prices in		Significant			Significant
					Active Markets for		Other			Unobservable
					Identical Assets		Observable			(Level 3)
					(Level 1)		(Level 2)
	Foreign currency forward contract	$	(254	)	$	—	$	(254	)	$	—
	Total	$	(254	)	$	—	$	(254	)	$	—
		As of September 30, 2013 (in thousands)
		Total			Quoted Prices in		Significant			Significant
					Active Markets for		Other			Unobservable
					Identical Assets		Observable			(Level 3)
					(Level 1)		(Level 2)
	Foreign currency forward contract	$	(351	)	$	—	$	(351	)	$	—
	Total	$	(351	)	$	—	$	(351	)	$	—

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Mar. 31, 2014
Accumulated Other Comprehensive Loss	'
	Accumulated other comprehensive income (loss) consisted of the following (in thousands):
		Foreign
		Currency
		Translation
		Adjustments
	Balance at September 30, 2013	$	(1,064	)
	Foreign currency translation adjustments during the period		(1,039	)
	Balance at March 31, 2014	$	(2,103	)

Inventories_Tables

Inventories (Tables)	6 Months Ended
	Mar. 31, 2014
Inventories	'
	Inventories consist of the following (in thousands):
		March 31, 2014			September 30, 2013
	Finished goods	$	31,740		$	44,391
	Work-in-process		24,085			25,156
	Raw materials		96,363			86,933
	Obsolescence reserve		(7,769	)		(6,932	)
		$	144,419		$	149,548

Percentage_of_Completion_Table

Percentage of Completion (Tables)	6 Months Ended
	Mar. 31, 2014
Cost and Estimated Earnings in Excess of Billings	'
	The Company utilizes the POC Method to recognize revenues under a contract with a customer. In the consolidated balance sheets “costs and estimated earnings in excess of billings” are reported as a current asset and “billings in excess of costs and estimated earnings” are included in accrued and other liabilities as follows (in thousands):
		March 31, 2014			September 30, 2013
	Contract revenues earned to date	$	164,522		$	109,565
	Less contract billings to date		(164,978	)		(97,165	)
	Billings in excess of costs and estimated earnings	$	(456	)	$	—
	Costs and estimated earnings in excess of billings	$	—		$	12,400

Accounts_and_Notes_Receivable_

Accounts and Notes Receivable (Tables)	6 Months Ended
	Mar. 31, 2014
Current Trade Accounts Receivable	'
	Current trade accounts are reflected in the following table (in thousands):
		March 31, 2014			September 30, 2013
	Trade accounts receivable	$	51,981		$	50,132
	Allowance for doubtful accounts		(1,042	)		(376	)
		$	50,939		$	49,756
Notes Receivable	'
	Notes receivable are reflected in the following table (in thousands):
		March 31, 2014			September 30, 2013
	Notes receivable	$	2,808		$	5,290
	Allowance for doubtful notes		—			—
			2,808			5,290
	Less current portion		2,808			5,290
		$	—		$	—

LongTerm_Debt_Tables

Long-Term Debt (Tables)	6 Months Ended
	Mar. 31, 2014
Long-Term Debt	'
	Long-term debt consisted of the following (in thousands):
		March 31, 2014		September 30, 2013
	Working capital line of credit	$	—	$	931
	Less current portion		—		—
		$	—	$	931

Earnings_Per_Common_Share_Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Mar. 31, 2014
Calculation of Weighted Average Common Shares and Common Equivalent Shares Outstanding	'
	In connection with the issuances of restricted stock during fiscal year 2014, the Company applied the two-class method in calculating per share data for the three and six months ended March 31, 2014. The following table summarizes the calculation of net earnings and weighted average common shares and common equivalent shares outstanding for purposes of the computation of earnings per share (in thousands, except share and per share data):
		Three Months Ended					Six Months Ended
		March 31, 2014			March 31, 2013		March 31, 2014			March 31, 2013
	Net income	$	10,816		$	16,869	$	34,992		$	38,882
	Less: Income allocable to unvested restricted stock		(109	)		—		(353	)		—
	Income available to common shareholders		10,707		$	16,869		34,639		$	38,882
			—			—		1			—
	Reallocation of participating earnings
		$	10,707		$	16,869	$	34,640		$	38,882
	Diluted income attributable to common
	shareholders
	Weighted average number of common share equivalents:
	Common shares used in basic earnings per share		12,950,416			12,882,396		12,948,788			12,854,858
	Common share equivalents outstanding related to stock options		51,967			73,170		52,287			69,156
			13,002,383			12,955,566		13,001,075			12,924,014
	Total weighted average common shares and common share equivalents used in diluted earnings per share
	Basic earnings per common share	$	0.83		$	1.31	$	2.68		$	3.02
	Diluted earnings per common share	$	0.82		$	1.3	$	2.66		$	3.01

Segment_Information_Tables

Segment Information (Tables)	6 Months Ended
	Mar. 31, 2014
Summary of Company's Segment Information	'
	The following table summarizes the Company’s segment information (in thousands):
		Three Months Ended						Six Months Ended
		March 31, 2014			March 31, 2013			March 31, 2014			March 31, 2013
	Net sales:
	Seismic	$	63,703		$	69,758		$	158,930		$	141,842
	Non-Seismic		4,795			6,444			10,707			11,911
	Corporate		53			218			262			418
	Total	$	68,551		$	76,420		$	169,899		$	154,171
	Income (loss) from operations:
	Seismic	$	19,473		$	27,842		$	58,016		$	61,803
	Non-Seismic		263			892			1,037			1,357
	Corporate		(3,780	)		(3,178	)		(7,430	)		(6,056	)
	Total	$	15,956		$	25,556		$	51,623		$	57,104

Changes_in_Warranty_Reserve_De

Changes in Warranty Reserve (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Changes in product warranty reserve	'
Balance at the beginning of the period	$1,952
Accruals for warranties issued during the period	69
Settlements made (in cash or in kind) during the period	-593
Balance at the end of the period	$1,428

Derivative_Financial_Instrumen2

Derivative Financial Instruments - Additional Information (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Derivative Financial Instruments [Line Items]	'
Accrued unrealized foreign exchange losses	$0.30
Foreign currency forward contract	'
Derivative Financial Instruments [Line Items]	'
Foreign currency forward contract to hedge	32
Canadian Subsidiary	'
Derivative Financial Instruments [Line Items]	'
Denominated intercompany accounts payable	$40.10

Gross_Fair_Value_of_all_Deriva

Gross Fair Value of all Derivative Instruments (Details) (Foreign Currency Exchange Contracts, Accrued Expenses, Not Designated as Hedging Instrument, USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Foreign Currency Exchange Contracts | Accrued Expenses | Not Designated as Hedging Instrument	'	'
Derivatives Fair Value [Line Items]	'	'
Liability Derivatives	$254	$351

Companys_Derivatives_on_Conden

Company's Derivatives on Condensed Consolidated Financial Statements of Operations (Details) (Other Income (Expense), Foreign Currency Exchange Contracts, USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Other Income (Expense) | Foreign Currency Exchange Contracts	'	'	'	'
Derivative Instruments Gain Loss [Line Items]	'	'	'	'
Amount of (Loss) Gain Recognized in Income	$1,255	($58)	$2,117	$155

Fair_Value_Measurement_of_Comp

Fair Value Measurement of Company's Foreign Currency Forward Contracts (Details) (Fair Value, Measurements, Recurring, USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Total	($254)	($351)
Quoted Prices in Active Markets for Identical Assets (Level 1)	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Total	'	'
Significant Other Observable (Level 2)	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Total	-254	-351
Significant Unobservable (Level 3)	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Total	'	'
Foreign currency forward contract	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Foreign currency forward contract	-254	-351
Foreign currency forward contract | Quoted Prices in Active Markets for Identical Assets (Level 1)	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Foreign currency forward contract	'	'
Foreign currency forward contract | Significant Other Observable (Level 2)	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Foreign currency forward contract	-254	-351
Foreign currency forward contract | Significant Unobservable (Level 3)	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Foreign currency forward contract	'	'

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Details) (USD $)	6 Months Ended	0 Months Ended	1 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Feb. 06, 2014	Nov. 30, 2013	Mar. 31, 2014
		Restricted Stock	Restricted Stock	Restricted Stock
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]	'	'	'	'
Restricted shares issued	'	3,000	184,000	'
Fair value of the Company’s common stock on the date of grant	'	$69.96	$98.68	'
Unrecognized compensation expense	'	$0.20	$17.30	$15.40
Expected period for recognition of unrecognized compensation expense	'	'4 years	'4 years	'
Forfeiture of restricted stock	4,000	'	'	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Accumulated other comprehensive loss	'	'	($1,064)	'
Foreign currency translation adjustments	-942	-147	-1,039	156
Accumulated other comprehensive loss	($2,103)	'	($2,103)	'

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Inventory Net [Abstract]	'	'
Finished goods	$31,740	$44,391
Work-in-process	24,085	25,156
Raw materials	96,363	86,933
Obsolescence reserve	-7,769	-6,932
Total	$144,419	$149,548

Inventories_Additional_Informa

Inventories - Additional Information (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Inventories (Textual) [Abstract]	'	'
Inventories transferred to rental equipment	$6.90	$4.10

Cost_and_Estimated_Earnings_in

Cost and Estimated Earnings in Excess of Billings (Details) (USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Cost And Estimated Earnings In Excess Of Billings [Line Items]	'	'
Contract revenues earned to date	$164,522	$109,565
Less contract billings to date	-164,978	-97,165
Billings in excess of costs and estimated earnings	-456	'
Costs and estimated earnings in excess of billings	'	$12,400

Current_Trade_Accounts_Receiva

Current Trade Accounts Receivable (Details) (USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Current trade accounts receivable	'	'
Trade accounts receivable	$51,981	$50,132
Allowance for doubtful accounts	-1,042	-376
Total current trade accounts receivable	$50,939	$49,756

Notes_Receivable_Details

Notes Receivable (Details) (USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Notes receivable	'	'
Notes receivable	$2,808	$5,290
Allowance for doubtful notes	'	'
Total	2,808	5,290
Less current portion	2,808	5,290
Long-term portion	'	'

LongTerm_Debt_Details

Long-Term Debt (Details) (USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified
Long-Term Debt [Abstract]	'	'
Working capital line of credit	'	$931
Less current portion	'	'
Total long-term debt	'	$931

LongTerm_Debt_Additional_Infor

Long-Term Debt - Additional Information (Details) (USD $)	6 Months Ended		1 Months Ended	6 Months Ended
	Mar. 31, 2014	Sep. 27, 2013	Mar. 31, 2011	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Sep. 30, 2013
			New Agreement	Line of Credit	Line of Credit	Credit Agreement	Standby Letters of Credit	Standby Letters of Credit
				Minimum	Maximum
Long-Term Debt (Textual) [Abstract]	'	'	'	'	'	'	'	'
Credit agreement date	'	'	2-Mar-11	'	'	'	'	'
Company can borrow principally secured loans by its accounts receivable, inventories and equipment	'	$50,000,000	'	'	'	'	'	'
Line of credit facility expiration date	27-Apr-16	'	'	'	'	'	'	'
Credit Agreement is a LIBOR based rate with a margin spread	'	'	'	2.50%	3.25%	'	'	'
Line of Credit Facility, Outstanding borrowing	'	'	'	'	'	0	'	'
Credit Agreement, standby letters of credit outstanding amount	'	'	'	'	'	'	0	42,000
Additional borrowings available	$50,000,000	'	'	'	'	'	'	'

Calculation_of_Weighted_Averag

Calculation of Weighted Average Common Shares and Common Equivalent Shares Outstanding (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]	'	'	'	'
Net income	$10,816	$16,869	$34,992	$38,882
Less: Income allocable to unvested restricted stock	-109	'	-353	'
Income available to common shareholders	10,707	16,869	34,639	38,882
Reallocation of participating earnings	'	'	1	'
Diluted income attributable to common shareholders	$10,707	$16,869	$34,640	$38,882
Weighted average number of common share equivalents:	'	'	'	'
Common shares used in basic earnings per share	12,950,416	12,882,396	12,948,788	12,854,858
Common share equivalents outstanding related to stock options	51,967	73,170	52,287	69,156
Total weighted average common shares and common share equivalents used in diluted earnings per share	13,002,383	12,955,566	13,001,075	12,924,014
Basic earnings per common share	$0.83	$1.31	$2.68	$3.02
Diluted earnings per common share	$0.82	$1.30	$2.66	$3.01

Summary_of_Companys_Segment_In

Summary of Company's Segment Information (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Sales	$68,551	$76,420	$169,899	$154,171
Total income (loss) from operations	15,956	25,556	51,623	57,104
Seismic	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Sales	63,703	69,758	158,930	141,842
Total income (loss) from operations	19,473	27,842	58,016	61,803
Non-Seismic	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Sales	4,795	6,444	10,707	11,911
Total income (loss) from operations	263	892	1,037	1,357
Corporate	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Sales	53	218	262	418
Total income (loss) from operations	($3,780)	($3,178)	($7,430)	($6,056)

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Income Taxes [Line Items]	'	'	'	'
United States statutory tax rate	35.00%	35.00%	35.00%	35.00%
Company's effective tax rates	32.30%	32.60%	32.00%	31.50%