Geospace Technologies (GEOS) 10-Q 8 May 15 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Mar. 31, 2015	Apr. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	GEOS
Entity Registrant Name	GEOSPACE TECHNOLOGIES CORP
Entity Central Index Key	1001115
Current Fiscal Year End Date	-21
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		13,147,916

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$23,513	$33,357
Short-term investments	19,958	19,861
Trade accounts receivable, net	16,783	24,602
Current portion of notes receivable	4,404	3,786
Income tax receivable	8,857	2,570
Inventories, net	138,365	145,890
Deferred income tax assets	7,319	7,244
Prepaid expenses and other current assets	1,872	6,698
Total current assets	221,072	244,008
Rental equipment, net	45,262	53,873
Property, plant and equipment, net	50,989	49,205
Goodwill	1,843	1,843
Non-current deferred income tax assets	626	75
Non-current notes receivable	1,524	28
Prepaid income taxes	4,947	5,848
Other assets	106	106
Total assets	326,369	354,986
Current liabilities:
Accounts payable trade	2,865	4,964
Accrued expenses and other current liabilities	6,762	14,590
Deferred revenue	529	3,752
Deferred income tax liabilities	23	23
Income taxes payable	230	22
Total current liabilities	10,409	23,351
Non-current deferred income tax liabilities	664	2,377
Total liabilities	11,073	25,728
Commitments and contingencies
Stockholders’ equity:
Preferred stock
Common stock	131	131
Additional paid-in capital	71,966	70,704
Retained earnings	250,292	260,919
Accumulated other comprehensive loss	-7,093	-2,496
Total stockholders’ equity	315,296	329,258
Total liabilities and stockholders’ equity	$326,369	$354,986

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, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Total revenues	$27,942	$68,551	$49,108	$169,899
Cost of revenues:
Total cost of revenues	26,526	40,648	47,713	94,904
Gross profit	1,416	27,903	1,395	74,995
Operating expenses:
Selling, general and administrative	5,953	6,554	11,822	13,256
Research and development	3,691	5,097	6,992	9,472
Bad debt expense	321	296	1,018	644
Total operating expenses	9,965	11,947	19,832	23,372
Income (loss) from operations	-8,549	15,956	-18,437	51,623
Other income (expense):
Interest expense	-107	-103	-219	-235
Interest income	115	25	174	56
Foreign exchange gains, net	599	101	2,188	80
Other, net	-23	-12	-113	-38
Total other income (expense), net	584	11	2,030	-137
Income (loss) before income taxes	-7,965	15,967	-16,407	51,486
Income tax expense (benefit)	-2,783	5,151	-5,780	16,494
Net income (loss)	-5,182	10,816	-10,627	34,992
Basic earnings (loss) per share	($0.40)	$0.83	($0.82)	$2.68
Diluted earnings (loss) per share	($0.40)	$0.82	($0.82)	$2.66
Weighted average shares outstanding – Basic	13,002,616	12,950,416	12,990,129	12,948,788
Weighted average shares outstanding – Diluted	13,002,616	13,002,383	12,990,129	13,001,075
Products
Revenues:
Total revenues	24,833	58,909	43,296	156,729
Cost of revenues:
Total cost of revenues	21,402	35,474	40,015	86,712
Rental equipment
Revenues:
Total revenues	3,109	9,642	5,812	13,170
Cost of revenues:
Total cost of revenues	$5,124	$5,174	$7,698	$8,192

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	($5,182)	$10,816	($10,627)	$34,992
Other comprehensive income (loss):
Change in unrealized gains on available-for-sale securities (net of tax)	23		21
Foreign currency translations adjustments	-1,966	-942	-4,618	-1,039
Other comprehensive income (loss)	-1,943	-942	-4,597	-1,039
Total comprehensive income (loss)	($7,125)	$9,874	($15,224)	$33,953

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income (loss)	($10,627)	$34,992
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Deferred income tax benefit	-2,338	-676
Depreciation	10,096	8,662
Accretion of discounts on short-term-investments	114
Stock-based compensation	2,327	1,935
Bad debt expense	1,018	644
Inventory obsolescence expense	1,662	1,717
Gross profit from the sale of used rental equipment	-1,349	-5,466
Gain on disposal of property, plant and equipment	-2	-58
Excess tax expense from stock-based compensation	-1,065
Effects of changes in operating assets and liabilities:
Trade accounts and notes receivable	3,559	337
Income tax receivable	-6,287
Inventories	3,303	-3,987
Costs and estimated earnings in excess of billings		12,400
Prepaid expenses and other current assets	4,645	306
Prepaid income taxes	900	-950
Accounts payable	-2,064	-2,496
Accrued expenses and other	-11,503	-1,346
Deferred revenue	-3,197	5,672
Income taxes payable	255	4,117
Net cash provided by (used in) operating activities	-10,553	55,803
Cash flows from investing activities:
Purchase of property, plant and equipment	-1,418	-4,379
Investment in rental equipment	-1,799	-18,309
Proceeds from sale of used rental equipment	3,570	8,551
Purchases of short-term investments	-1,875
Proceeds from the sale of short-term investments	1,715
Net cash provided by (used in) investing activities	193	-14,137
Cash flows from financing activities:
Principal payments on debt arrangements		-931
Excess tax benefit from stock-based compensation		661
Proceeds from exercise of stock options		212
Net cash used in financing activities		-58
Effect of exchange rate changes on cash	516	6
Increase (decrease) in cash and cash equivalents	-9,844	41,614
Cash and cash equivalents, beginning of period	33,357	2,726
Cash and cash equivalents, end of period	$23,513	$44,340

Significant_Accounting_Policie

Significant Accounting Policies	6 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
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, 2014 was derived from the Company’s audited consolidated financial statements at that date. The consolidated balance sheet at March 31, 2015 and the consolidated statements of operations and statements of comprehensive income (loss) for the three and six months ended March 31, 2015 and 2014, and the consolidated statements of cash flows for the six months ended March 31, 2015 and 2014 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, 2015 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 pursuant to the rules of the Securities and Exchange Commission. 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 Company’s fiscal year ended September 30, 2014.
	Reclassifications
	Certain amounts previously presented in the consolidated financial statements have been reclassified to conform to the current year presentation. During the six months ended March 31, 2015, the Company reclassified $4.2 million in deposits made for equipment purchases in the prior fiscal year from prepaid and other current assets to property, plant and equipment on its consolidated balance sheet. Such reclassification had no effect on net income (loss), 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 accumulated other comprehensive income (loss) in stockholders’ equity. See note 2 for additional information.
	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 certain of the Company’s foreign subsidiaries use an average cost method to value their inventories.
	Impairment Review of Goodwill and Long-lived Assets
	At March 31, 2015, the Company had $1.8 million of goodwill reflected in its consolidated balance sheet. In accordance with FASB ASC 350, “Intangibles – Goodwill and Other,” we perform goodwill impairment testing at least annually, unless indicators of impairment exist in interim periods. In recent months, business conditions in the oil and gas industry have significantly deteriorated and the market value of the Company’s stock has declined. In light of the foregoing, we concluded that it was appropriate for us to perform an interim goodwill impairment test as of December 31, 2014 and March 31, 2015. The impairment test for goodwill uses a two-step approach. Step one compares the estimated fair value of a reporting unit with goodwill to its carrying value. If the carrying value exceeds the estimated fair value, step two must be performed. Step two compares the carrying value of the reporting unit to the fair value of all of the assets and liabilities of the reporting unit (including any unrecognized intangibles) as if the reporting unit was acquired in a business combination. If the carrying amount of a reporting unit’s goodwill exceeds the implied fair value of its goodwill, an impairment loss is recognized in an amount equal to the excess. Based on the results of our step one test as of December 31, 2014 and March 31, 2015, management concluded that goodwill was not impaired; however, given overall market conditions, management will continue to monitor this situation. In connection with our goodwill impairment test, management also reviewed the recoverability of the carrying value of the Company’s rental equipment and property, plant and equipment based on future undiscounted cash flows and determined that no such impairment of these assets was necessary at December 31, 2014 and March 31, 2015.
	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 the 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 reported as a current liability on the consolidated balance sheet as “billings in excess of costs and estimated earnings.” Any uncollected billed revenue, including contract retentions, is included in “trade accounts receivable, net.”
	The Company currently has no contracts accounted for under the POC Method.
	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, 2014		$	951
	Accruals for warranties issued during the period			395
	Settlements made (in cash or in kind) during the period			(702	)
	Balance at March 31, 2015		$	644
	Recent Accounting Pronouncements
	In August 2014, the FASB issued ASU 2014-15 which provides guidance on management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable) and to provide related footnote disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently assessing the impact of this ASU on its consolidated financial statements.
	In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customer (Topic 606).” The amendment applies a new five-step revenue recognition model to be used in recognizing revenues associated with customer contracts. The amendment requires disclosure sufficient to enable readers of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill the contract. The standard is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting.

Shortterm_Investments

Short-term Investments	6 Months Ended
	Mar. 31, 2015
Investments Debt And Equity Securities [Abstract]
Short-term Investments	2. Short-term Investments
		As of March 31, 2015 (in thousands)
		Amortized		Unrealized		Unrealized			Estimated
		Cost		Gains		Losses			Fair Value
	Short-term investments:
	Corporate	$	15,122	$	—	$	(5	)	$	15,117
	Government		4,843		—		(2	)		4,841
	Total	$	19,965	$	—	$	(7	)	$	19,958
		As of September 30, 2014 (in thousands)
		Amortized		Unrealized		Unrealized			Estimated
		Cost		Gains		Losses			Fair Value
	Short-term investments:
	Corporate	$	14,262	$	—	$	(27	)	$	14,235
	Government		5,638		—		(12	)		5,626
	Total	$	19,900	$	—	$	(39	)	$	19,861
	Accumulated other comprehensive loss on the consolidated balance sheets at March 31, 2015 and September 30, 2014 included unrealized losses (net of tax) of $5,000 and $26,000, respectively.

Derivative_Financial_Instrumen

Derivative Financial Instruments	6 Months Ended
	Mar. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	3. Derivative Financial Instruments
	At March 31, 2015 and September 30, 2014, the Company’s Canadian subsidiary had $28.6 million and $29.8 million, respectively, of Canadian dollar denominated intercompany accounts payable owed to one of 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, 2015, the Company was a party to a $28.0 million Canadian dollar forward contract.  This contract reduces the impact on cash flows from movements in the Canadian dollar/U.S. dollar currency exchange rate, but has not been designated as a hedge for accounting purposes.
	At March 31, 2015, the Company had an accrued unrealized foreign exchange gain 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	31-Mar-15		30-Sep-14
	Foreign Currency Exchange Contracts	Prepaid Expenses and Other Current Assets	$	294	$	795
	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, 2015 and 2014 (in thousands):
			Three Months Ended					Six Months Ended
			31-Mar					31-Mar
	Derivative Instrument	Location of Gain (Loss)	2015		2014			2015		2014
	Foreign Currency Exchange Contracts	Other Income (Expense)	$	2,023	$	(58	)	$	2,948	$	155
	Amounts in the above table include realized and unrealized derivative gains and losses.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	4. Fair Value of Financial Instruments
	At March 31, 2015, the Company’s financial instruments included cash and cash equivalents, short-term investments, foreign currency forward contract, trade and notes receivables and accounts payable.  Due to the short-term maturities of cash and cash equivalents, trade and other receivables and accounts payable, the carrying amounts approximate fair value on the respective balance sheet dates.
	The Company measures its short-term investments and derivative instruments at fair value on a recurring basis.  The fair value measurement of the Company’s short-term investments and derivative instruments was determined using the following inputs (in thousands):
		As of March 31, 2015
				Quoted Prices in		Significant
				Active Markets for		Other		Significant
				Identical Assets		Observable		Unobservable
		Total		(Level 1)		(Level 2)		(Level 3)
	Short-term investments:
	Corporate bonds	$	15,117	$	15,117	$	—	$	—
	Government bonds		4,841		4,841		—		—
	Foreign currency forward contract		294		—		294		—
	Total	$	20,252	$	19,958	$	294	$	—
		As of September 30, 2014
				Quoted Prices in		Significant
				Active Markets for		Other		Significant
				Identical Assets		Observable		Unobservable
		Total		(Level 1)		(Level 2)		(Level 3)
	Short-term investments:
	Corporate bonds	$	14,235	$	14,235	$	—	$	—
	Government bonds		5,626		5,626		—		—
	Foreign currency forward contract		795		—		795		—
	Total	$	20,656	$	19,861	$	795	$	—
	The Company applies fair value techniques on a non-recurring basis in evaluating potential impairment losses related to goodwill and long-lived assets.

Accounts_and_Notes_Receivable

Accounts and Notes Receivable	6 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Accounts and Notes Receivable	5. Accounts and Notes Receivable
	Current trade accounts are reflected in the following table (in thousands):
		March 31, 2015			September 30, 2014
	Trade accounts receivable	$	18,637		$	25,727
	Allowance for doubtful accounts		(1,854	)		(1,125	)
		$	16,783		$	24,602
	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, net are reflected in the following table (in thousands):
		March 31, 2015			September 30, 2014
	Notes receivable	$	5,928		$	3,814
	Allowance for doubtful notes		—			—
			5,928			3,814
	Less current portion		4,404			3,786
	Non-current notes receivable	$	1,524		$	28
	During the three months ended March 31, 2015, notes receivable were reduced $0.7 million in connection with the return of rental equipment from a customer in a non-cash transaction.

Inventories

Inventories	6 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories	6. Inventories
	Inventories consist of the following (in thousands):
		March 31, 2015			September 30, 2014
	Finished goods	$	49,203		$	42,473
	Work-in-process		20,856			28,582
	Raw materials		77,150			82,599
	Obsolescence reserve		(8,844	)		(7,764	)
		$	138,365		$	145,890
	During the six months ended March 31, 2015 and 2014, the Company made non-cash inventory transfers of $0.1 million and $6.9 million, respectively, to its rental equipment fleet. Raw materials include semi-finished goods and component parts totaling $41.9 million and $43.6 million at March 31, 2015 and September 30, 2014, respectively.

LongTerm_Debt

Long-Term Debt	6 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt	7. Long-Term Debt
	The Company had no long-term debt outstanding at March 31, 2015 and September 30, 2014.
	On March 2, 2011, the Company entered into a credit agreement with Frost 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 under the Credit Agreement were principally secured by its accounts receivable, inventories and equipment.  In addition, certain domestic subsidiaries of the Company guaranteed the obligations of the Company under the Credit Agreement and such subsidiaries secured the obligations by the pledge of certain of the assets of such subsidiaries.  The Company was required to make quarterly interest payments on borrowed funds.  The Credit Agreement limited the incurrence of additional indebtedness, required the maintenance of certain financial ratios, restricted the Company and its subsidiaries’ ability to pay cash dividends and contained other covenants customary in agreements of this type.  The interest rate for borrowings under the Credit Agreement was a LIBOR based rate with a margin spread of 250 to 325 basis points depending upon the maintenance of certain ratios.  At March 31, 2015, the Company was in compliance with all covenants under the Credit Agreement; however, a covenant requiring the Company to maintain a minimum ratio of Funded Debt to EBITDA restricted the Company’s potentially available borrowings under the Credit Agreement to $19.7 million at March 31, 2015.  At March 31, 2015 and September 30, 2014, the Company had standby letters of credit outstanding in the amount of $59,000 and $51,000, respectively.
	On May 4, 2015, the Company again amended the Credit Agreement which reduced its borrowing availability to $30.0 million with amounts available for borrowing determined by a borrowing base.  Under the amendments to the Credit Agreement, the borrowing base is determined based upon certain of the Company’s and its U.S. subsidiaries’ assets which include (i) 80% of certain accounts receivable plus (ii) 50% of certain notes receivable (such result not to exceed $10 million) plus (iii) 25% of certain inventories (excluding work-in-process inventories).  On a pro forma basis as of March 31, 2015, the Company’s borrowing base was $37.9 million resulting in borrowing availability of $30.0 million less any outstanding letters of credit.  Borrowings under the Credit Agreement as amended are secured by substantially all of the Company’s assets.  In addition, the Company’s domestic subsidiaries have guaranteed the obligations of the Company under the Credit Agreement and such subsidiaries have secured the obligations by the pledge of substantially all of the assets of such subsidiaries.  The Credit Agreement as amended expires on May 4, 2018 and all borrowed funds are due and payable at that time.  The Company is required to make monthly interest payments on borrowed funds.  The Credit Agreement as amended limits the incurrence of additional indebtedness, requires the maintenance of a single financial ratio that compares certain of the Company’s assets to certain of its liabilities, 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 as amended is based on the Wall Street Journal prime rate, which was 3.25% at March 31, 2015.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	6 Months Ended
	Mar. 31, 2015
Stockholders Equity Note [Abstract]
Accumulated Other Comprehensive Loss	8. Accumulated Other Comprehensive Loss:
	Accumulated other comprehensive loss consisted of the following (in thousands):
		Unrealized			Foreign
		Losses on			Currency
		Available-for-			Translation
		Sale Securities			Adjustments			Total
	Balance at September 30, 2014	$	(26	)	$	(2,470	)	$	(2,496	)
	Change in unrealized losses on available-for-sale securities (net of tax)		21			—			21
	Foreign currency translation adjustments		—			(4,618	)		(4,618	)
	Balance at March 31, 2015	$	(5	)	$	(7,088	)	$	(7,093	)

StockBased_Compensation

Stock-Based Compensation	6 Months Ended
	Mar. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	9. 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 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.  During fiscal year 2014, the Company issued a total of 13,000 shares of restricted stock under the 2014 Long Term Incentive Plan, as amended (“the Plan”) at a weighted average grant date fair value of $45.68 per share.  During the first six months of fiscal year 2015, the Company issued a total of 3,000 shares of restricted stock under the Plan at a weighted average grant date fair value of $19.13 per share. Recipients of restricted stock awards are entitled to vote such shares and are entitled to dividends if paid.
	Compensation expense for restricted stock awards is 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, 2015, we had unrecognized compensation expense of approximately $11.5 million, all of which was related to restricted stock awards.  The weighted average period over which this expense is expected to be recognized is 2.7 years.

Earnings_Loss_Per_Common_Share

Earnings (Loss) Per Common Share	6 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings (Loss) Per Common Share	10. Earnings (Loss) Per Common Share
	The Company applies the two-class method in calculating per share data.  The following table summarizes the calculation of net earnings (loss) and weighted average common shares and common equivalent shares outstanding for purposes of the computation of earnings (loss) per share (in thousands, except share and per share data):
		Three Months Ended					Six Months Ended
		March 31, 2015			March 31, 2014		March 31, 2015			March 31, 2014
	Net income (loss)	$	(5,182	)	$	10,816	$	(10,627	)	$	34,992
	Less: Income allocable to unvested restricted stock		—			109		—			353
	Income (loss) available to common shareholders		(5,182	)		10,707		(10,627	)		34,639
	Reallocation of participating earnings		—			—		—			1
	Income (loss) attributable to common shareholders for diluted earnings per share	$	(5,182	)	$	10,707	$	(10,627	)	$	34,640
	Weighted average number of common share equivalents:
	Common shares used in basic earnings (loss) per share		13,002,616			12,950,416		12,990,129			12,948,788
	Common share equivalents outstanding  related to stock options		—			51,967		—			52,287
	Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share		13,002,616			13,002,383		12,990,129			13,001,075
	Earnings (loss) per share:
	Basic	$	(0.40	)	$	0.83	$	(0.82	)	$	2.68
	Diluted	$	(0.40	)	$	0.82	$	(0.82	)	$	2.66

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies
	The Company is involved in various pending or potential legal actions in the ordinary course of our business. Management is unable to predict the ultimate outcome of these actions, because of the inherent uncertainty of litigation. However, management believes that the most probable, ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Segment_Information

Segment Information	6 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Information	12. 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, 2015		March 31, 2014		March 31, 2015		March 31, 2014
	Net revenues:
	Seismic	$	22,781	$	63,703	$	38,374	$	158,930
	Non-Seismic		5,019		4,795		10,450		10,707
	Corporate		142		53		284		262
	Total	$	27,942	$	68,551	$	49,108	$	169,899
	Income (loss) from operations:
	Seismic	$	-5,744	$	19,473	$	-13,129	$	58,016
	Non-Seismic		502		263		1,360		1,037
	Corporate		-3,307		-3,780		-6,668		-7,430
	Total	$	-8,549	$	15,956	$	-18,437	$	51,623

Income_Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes
	The United States statutory tax rate for the three and six months ended March 31, 2015 and 2014 was 35%. The Company’s effective tax rates for the three months ended March 31, 2015 and 2014 were 34.9% and 32.3%, respectively. The Company’s effective tax rates for the six months ended March 31, 2015 and 2014 were 35.2% and 32.0%, respectively. The lower effective tax rates for the periods ended March 31, 2014 primarily resulted from a manufacturers’/producers’ deduction available to U.S. manufacturers.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
	The consolidated balance sheet of Geospace Technologies Corporation and its subsidiaries (the “Company”) at September 30, 2014 was derived from the Company’s audited consolidated financial statements at that date. The consolidated balance sheet at March 31, 2015 and the consolidated statements of operations and statements of comprehensive income (loss) for the three and six months ended March 31, 2015 and 2014, and the consolidated statements of cash flows for the six months ended March 31, 2015 and 2014 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, 2015 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 pursuant to the rules of the Securities and Exchange Commission. 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 Company’s fiscal year ended September 30, 2014.
Reclassifications	Reclassifications
	Certain amounts previously presented in the consolidated financial statements have been reclassified to conform to the current year presentation. During the six months ended March 31, 2015, the Company reclassified $4.2 million in deposits made for equipment purchases in the prior fiscal year from prepaid and other current assets to property, plant and equipment on its consolidated balance sheet. Such reclassification had no effect on net income (loss), 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 accumulated other comprehensive income (loss) in stockholders’ equity. See note 2 for additional information.
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 certain of the Company’s foreign subsidiaries use an average cost method to value their inventories.
Impairment Review of Goodwill and Long-lived Assets	Impairment Review of Goodwill and Long-lived Assets
	At March 31, 2015, the Company had $1.8 million of goodwill reflected in its consolidated balance sheet. In accordance with FASB ASC 350, “Intangibles – Goodwill and Other,” we perform goodwill impairment testing at least annually, unless indicators of impairment exist in interim periods. In recent months, business conditions in the oil and gas industry have significantly deteriorated and the market value of the Company’s stock has declined. In light of the foregoing, we concluded that it was appropriate for us to perform an interim goodwill impairment test as of December 31, 2014 and March 31, 2015. The impairment test for goodwill uses a two-step approach. Step one compares the estimated fair value of a reporting unit with goodwill to its carrying value. If the carrying value exceeds the estimated fair value, step two must be performed. Step two compares the carrying value of the reporting unit to the fair value of all of the assets and liabilities of the reporting unit (including any unrecognized intangibles) as if the reporting unit was acquired in a business combination. If the carrying amount of a reporting unit’s goodwill exceeds the implied fair value of its goodwill, an impairment loss is recognized in an amount equal to the excess. Based on the results of our step one test as of December 31, 2014 and March 31, 2015, management concluded that goodwill was not impaired; however, given overall market conditions, management will continue to monitor this situation. In connection with our goodwill impairment test, management also reviewed the recoverability of the carrying value of the Company’s rental equipment and property, plant and equipment based on future undiscounted cash flows and determined that no such impairment of these assets was necessary at December 31, 2014 and March 31, 2015.
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 the 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 reported as a current liability on the consolidated balance sheet as “billings in excess of costs and estimated earnings.” Any uncollected billed revenue, including contract retentions, is included in “trade accounts receivable, net.”
	The Company currently has no contracts accounted for under the POC Method.
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, 2014		$	951
	Accruals for warranties issued during the period			395
	Settlements made (in cash or in kind) during the period			(702	)
	Balance at March 31, 2015		$	644
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In August 2014, the FASB issued ASU 2014-15 which provides guidance on management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable) and to provide related footnote disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently assessing the impact of this ASU on its consolidated financial statements.
	In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customer (Topic 606).” The amendment applies a new five-step revenue recognition model to be used in recognizing revenues associated with customer contracts. The amendment requires disclosure sufficient to enable readers of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill the contract. The standard is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting.

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	6 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Changes in Warranty Reserve	Changes in the warranty reserve are reflected in the following table (in thousands):
	Balance at October 1, 2014	$	951
	Accruals for warranties issued during the period		395
	Settlements made (in cash or in kind) during the period		(702	)
	Balance at March 31, 2015	$	644

Shortterm_Investments_Tables

Short-term Investments (Tables)	6 Months Ended
	Mar. 31, 2015
Investments Debt And Equity Securities [Abstract]
Short-term Investments
		As of March 31, 2015 (in thousands)
		Amortized		Unrealized		Unrealized			Estimated
		Cost		Gains		Losses			Fair Value
	Short-term investments:
	Corporate	$	15,122	$	—	$	(5	)	$	15,117
	Government		4,843		—		(2	)		4,841
	Total	$	19,965	$	—	$	(7	)	$	19,958
		As of September 30, 2014 (in thousands)
		Amortized		Unrealized		Unrealized			Estimated
		Cost		Gains		Losses			Fair Value
	Short-term investments:
	Corporate	$	14,262	$	—	$	(27	)	$	14,235
	Government		5,638		—		(12	)		5,626
	Total	$	19,900	$	—	$	(39	)	$	19,861

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
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	31-Mar-15		30-Sep-14
	Foreign Currency Exchange Contracts	Prepaid Expenses and Other Current Assets	$	294	$	795
Company's Derivatives on 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, 2015 and 2014 (in thousands):
			Three Months Ended					Six Months Ended
			31-Mar					31-Mar
	Derivative Instrument	Location of Gain (Loss)	2015		2014			2015		2014
	Foreign Currency Exchange Contracts	Other Income (Expense)	$	2,023	$	(58	)	$	2,948	$	155

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurement of Company's Short-term Investments and Derivative Instruments	The fair value measurement of the Company’s short-term investments and derivative instruments was determined using the following inputs (in thousands):
		As of March 31, 2015
				Quoted Prices in		Significant
				Active Markets for		Other		Significant
				Identical Assets		Observable		Unobservable
		Total		(Level 1)		(Level 2)		(Level 3)
	Short-term investments:
	Corporate bonds	$	15,117	$	15,117	$	—	$	—
	Government bonds		4,841		4,841		—		—
	Foreign currency forward contract		294		—		294		—
	Total	$	20,252	$	19,958	$	294	$	—
		As of September 30, 2014
				Quoted Prices in		Significant
				Active Markets for		Other		Significant
				Identical Assets		Observable		Unobservable
		Total		(Level 1)		(Level 2)		(Level 3)
	Short-term investments:
	Corporate bonds	$	14,235	$	14,235	$	—	$	—
	Government bonds		5,626		5,626		—		—
	Foreign currency forward contract		795		—		795		—
	Total	$	20,656	$	19,861	$	795	$	—

Accounts_and_Notes_Receivable_

Accounts and Notes Receivable (Tables)	6 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Current Trade Accounts Receivable	Current trade accounts are reflected in the following table (in thousands):
		March 31, 2015			September 30, 2014
	Trade accounts receivable	$	18,637		$	25,727
	Allowance for doubtful accounts		(1,854	)		(1,125	)
		$	16,783		$	24,602
Notes Receivable	Notes receivable, net are reflected in the following table (in thousands):
		March 31, 2015			September 30, 2014
	Notes receivable	$	5,928		$	3,814
	Allowance for doubtful notes		—			—
			5,928			3,814
	Less current portion		4,404			3,786
	Non-current notes receivable	$	1,524		$	28

Inventories_Tables

Inventories (Tables)	6 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following (in thousands):
		March 31, 2015			September 30, 2014
	Finished goods	$	49,203		$	42,473
	Work-in-process		20,856			28,582
	Raw materials		77,150			82,599
	Obsolescence reserve		(8,844	)		(7,764	)
		$	138,365		$	145,890

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Mar. 31, 2015
Stockholders Equity Note [Abstract]
Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consisted of the following (in thousands):
		Unrealized			Foreign
		Losses on			Currency
		Available-for-			Translation
		Sale Securities			Adjustments			Total
	Balance at September 30, 2014	$	(26	)	$	(2,470	)	$	(2,496	)
	Change in unrealized losses on available-for-sale securities (net of tax)		21			—			21
	Foreign currency translation adjustments		—			(4,618	)		(4,618	)
	Balance at March 31, 2015	$	(5	)	$	(7,088	)	$	(7,093	)

Earnings_Loss_Per_Common_Share1

Earnings (Loss) Per Common Share (Tables)	6 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Calculation of net earnings (loss) and weighted average common shares and common equivalent shares outstanding for computation of earnings (loss) per share	The following table summarizes the calculation of net earnings (loss) and weighted average common shares and common equivalent shares outstanding for purposes of the computation of earnings (loss) per share (in thousands, except share and per share data):
		Three Months Ended					Six Months Ended
		March 31, 2015			March 31, 2014		March 31, 2015			March 31, 2014
	Net income (loss)	$	(5,182	)	$	10,816	$	(10,627	)	$	34,992
	Less: Income allocable to unvested restricted stock		—			109		—			353
	Income (loss) available to common shareholders		(5,182	)		10,707		(10,627	)		34,639
	Reallocation of participating earnings		—			—		—			1
	Income (loss) attributable to common shareholders for diluted earnings per share	$	(5,182	)	$	10,707	$	(10,627	)	$	34,640
	Weighted average number of common share equivalents:
	Common shares used in basic earnings (loss) per share		13,002,616			12,950,416		12,990,129			12,948,788
	Common share equivalents outstanding  related to stock options		—			51,967		—			52,287
	Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share		13,002,616			13,002,383		12,990,129			13,001,075
	Earnings (loss) per share:
	Basic	$	(0.40	)	$	0.83	$	(0.82	)	$	2.68
	Diluted	$	(0.40	)	$	0.82	$	(0.82	)	$	2.66

Segment_Information_Tables

Segment Information (Tables)	6 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
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, 2015		March 31, 2014		March 31, 2015		March 31, 2014
	Net revenues:
	Seismic	$	22,781	$	63,703	$	38,374	$	158,930
	Non-Seismic		5,019		4,795		10,450		10,707
	Corporate		142		53		284		262
	Total	$	27,942	$	68,551	$	49,108	$	169,899
	Income (loss) from operations:
	Seismic	$	-5,744	$	19,473	$	-13,129	$	58,016
	Non-Seismic		502		263		1,360		1,037
	Corporate		-3,307		-3,780		-6,668		-7,430
	Total	$	-8,549	$	15,956	$	-18,437	$	51,623

Significant_Accounting_Policie3

Significant Accounting Policies - Additional Information (Details) (USD $)	3 Months Ended	6 Months Ended
	Dec. 31, 2014	Mar. 31, 2015	Sep. 30, 2014
Accounting Policies [Abstract]
Reclassification of prior year deposit made for equipment from prepaid and other current assets to property, plant and equipment		$4,200,000
Goodwill		1,843,000	1,843,000
Impairment of property plant and equipment	$0	$0

Changes_in_Warranty_Reserve_De

Changes in Warranty Reserve (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Changes in product warranty reserve
Balance at the beginning of the period	$951
Accruals for warranties issued during the period	395
Settlements made (in cash or in kind) during the period	-702
Balance at the end of the period	$644

Shortterm_Investments_Details

Short-term Investments (Details) (USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, unless otherwise specified
Schedule Of Available For Sale Securities [Line Items]
Short-term Investments, Amortized Cost	$19,965	$19,900
Short-term Investments, Unrealized Losses	-7	-39
Short-term Investments, Estimated Fair Value	19,958	19,861
Corporate
Schedule Of Available For Sale Securities [Line Items]
Short-term Investments, Amortized Cost	15,122	14,262
Short-term Investments, Unrealized Losses	-5	-27
Short-term Investments, Estimated Fair Value	15,117	14,235
Government
Schedule Of Available For Sale Securities [Line Items]
Short-term Investments, Amortized Cost	4,843	5,638
Short-term Investments, Unrealized Losses	-2	-12
Short-term Investments, Estimated Fair Value	$4,841	$5,626

Shortterm_Investments_Addition

Short-term Investments - Additional Information (Details) (USD $)	6 Months Ended	12 Months Ended
	Mar. 31, 2015	Sep. 30, 2014
Short Term Investments [Abstract]
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss), Net of Tax	$5,000	$26,000

Derivative_Financial_Instrumen2

Derivative Financial Instruments - Additional Information (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Sep. 30, 2014
Canadian Dollar Forward Contract
Derivative Financial Instruments [Line Items]
Foreign currency forward contract to hedge	$28
Accrued unrealized foreign exchange gain	0.3
Canadian Subsidiary
Derivative Financial Instruments [Line Items]
Denominated intercompany accounts payable	$28.60	$29.80

Gross_Fair_Value_of_all_Deriva

Gross Fair Value of all Derivative Instruments (Details) (Foreign Currency Forward Contract, Prepaid Expenses and Other Current Assets, USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, unless otherwise specified
Foreign Currency Forward Contract | Prepaid Expenses and Other Current Assets
Derivatives Fair Value [Line Items]
Derivative Assets	$294	$795

Companys_Derivatives_on_Consol

Company's Derivatives on Consolidated Financial Statements of Operations (Details) (Foreign Currency Forward Contract, Other Income (Expense), USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Foreign Currency Forward Contract | Other Income (Expense)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amount of (Loss) Gain Recognized in Income	$2,023	($58)	$2,948	$155

Fair_Value_Measurement_of_Comp

Fair Value Measurement of Company's Short-term Investments and Derivative Instruments (Details) (USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, unless otherwise specified
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term Investments, Estimated Fair Value	$19,958	$19,861
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	20,252	20,656
Fair Value, Measurements, Recurring | Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term Investments, Estimated Fair Value	15,117	14,235
Fair Value, Measurements, Recurring | Government bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term Investments, Estimated Fair Value	4,841	5,626
Fair Value, Measurements, Recurring | Canadian Dollar Forward Contract
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Net Derivatives	294	795
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	19,958	19,861
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term Investments, Estimated Fair Value	15,117	14,235
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Government bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term Investments, Estimated Fair Value	4,841	5,626
Fair Value, Measurements, Recurring | Significant Other Observable (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	294	795
Fair Value, Measurements, Recurring | Significant Other Observable (Level 2) | Canadian Dollar Forward Contract
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Net Derivatives	$294	$795

Current_Trade_Accounts_Receiva

Current Trade Accounts Receivable (Details) (USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, unless otherwise specified
Current trade accounts receivable
Trade accounts receivable	$18,637	$25,727
Allowance for doubtful accounts	-1,854	-1,125
Total current trade accounts receivable	$16,783	$24,602

Notes_Receivable_Details

Notes Receivable (Details) (USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, unless otherwise specified
Accounts Receivable Net [Abstract]
Notes receivable	$5,928	$3,814
Total	5,928	3,814
Less current portion	4,404	3,786
Non-current notes receivable	$1,524	$28

Accounts_and_Notes_Receivables

Accounts and Notes Receivables - Additional Information (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Accounts Receivable Net [Abstract]
Decrease in notes receivables	$0.70

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]
Finished goods	$49,203	$42,473
Work-in-process	20,856	28,582
Raw materials	77,150	82,599
Obsolescence reserve	-8,844	-7,764
Total	$138,365	$145,890

Inventories_Additional_Informa

Inventories - Additional Information (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2014
Inventory Disclosure [Abstract]
Inventories transferred to rental equipment	$0.10	$6.90
Raw materials include semi-finished goods and component parts	$41.90		$43.60

LongTerm_Debt_Additional_Infor

Long-Term Debt - Additional Information (Details) (USD $)	6 Months Ended
	Mar. 31, 2015	Sep. 30, 2014	Sep. 27, 2013	4-May-15
Long-Term Debt [Abstract]
Total long-term debt outstanding	$0	$0
Line of credit borrowing capacity	37,900,000		50,000,000
Line of credit borrowing availability	19,700,000
Credit agreement borrowing availability	30,000,000
Credit agreement expiration date	4-May-18
Subsequent Event
Long-Term Debt [Abstract]
Credit agreement borrowing availability				30,000,000
Subsequent Event | Certain Accounts Receivable
Long-Term Debt [Abstract]
Borrowing base as percentage of assets				80.00%
Subsequent Event | Certain Notes Receivable
Long-Term Debt [Abstract]
Borrowing base as percentage of assets				50.00%
Maximum amount of borrowing base as percentage of assets				10,000,000
Subsequent Event | Certain Inventories
Long-Term Debt [Abstract]
Borrowing base as percentage of assets				25.00%
Prime Rate
Long-Term Debt [Abstract]
Marginal interest rate	3.25%
New Agreement
Long-Term Debt [Abstract]
Credit agreement date	2-Mar-11
Line of Credit | Minimum | LIBOR
Long-Term Debt [Abstract]
Marginal interest rate	2.50%
Line of Credit | Maximum | LIBOR
Long-Term Debt [Abstract]
Marginal interest rate	3.25%
Standby Letters of Credit
Long-Term Debt [Abstract]
Standby letters of credit outstanding	$59,000	$51,000

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Accumulated other comprehensive income (loss)			($2,496)
Change in unrealized losses on available-for-sale securities (net of tax)	23		21
Foreign currency translation adjustments	-1,966	-942	-4,618	-1,039
Accumulated other comprehensive income (loss)	-7,093		-7,093
Unrealized Losses on Available-for-Sale Securities
Accumulated other comprehensive income (loss)			-26
Change in unrealized losses on available-for-sale securities (net of tax)			21
Accumulated other comprehensive income (loss)	-5		-5
Foreign Currency Translation Adjustments
Accumulated other comprehensive income (loss)			-2,470
Foreign currency translation adjustments			-4,618
Accumulated other comprehensive income (loss)	($7,088)		($7,088)

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Details) (Restricted Stock, USD $)	6 Months Ended	0 Months Ended	12 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Nov. 21, 2013	Sep. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense	$11.50
Expected period for recognition of unrecognized compensation expense	2 years 8 months 12 days
1997 Key Employee Stock Option Plan Member
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares issued		184,000
Fair value of the Company’s common stock on the date of grant		$98.68
Unrecognized compensation expense		$17.30
Expected period for recognition of unrecognized compensation expense		4 years
2014 Long Term Incentive Plan Member
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares issued	3,000		13,000
Fair value of the Company’s common stock on the date of grant	$19.13		$45.68

Earnings_Loss_Per_Common_Share2

Earnings (Loss) Per Common Share - Additional Information (Details)	6 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Split of common stock ratio	2

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, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net income (loss)	($5,182)	$10,816	($10,627)	$34,992
Less: Income allocable to unvested restricted stock		109		353
Income (loss) available to common shareholders	-5,182	10,707	-10,627	34,639
Reallocation of participating earnings				1
Income (loss) attributable to common shareholders for diluted earnings per share	($5,182)	$10,707	($10,627)	$34,640
Weighted average number of common share equivalents:
Common shares used in basic earnings (loss) per share	13,002,616	12,950,416	12,990,129	12,948,788
Common share equivalents outstanding related to stock options		51,967		52,287
Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share	13,002,616	13,002,383	12,990,129	13,001,075
Basic	($0.40)	$0.83	($0.82)	$2.68
Diluted	($0.40)	$0.82	($0.82)	$2.66

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, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Net Revenues	$27,942	$68,551	$49,108	$169,899
Income (loss) from operations	-8,549	15,956	-18,437	51,623
Seismic | Operating Segments
Segment Reporting Information [Line Items]
Net Revenues	22,781	63,703	38,374	158,930
Income (loss) from operations	-5,744	19,473	-13,129	58,016
Non-Seismic | Operating Segments
Segment Reporting Information [Line Items]
Net Revenues	5,019	4,795	10,450	10,707
Income (loss) from operations	502	263	1,360	1,037
Corporate | Corporate, Non-Segment
Segment Reporting Information [Line Items]
Net Revenues	142	53	284	262
Income (loss) from operations	($3,307)	($3,780)	($6,668)	($7,430)

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
United States statutory tax rate	35.00%	35.00%	35.00%	35.00%
Company's effective tax rates	34.90%	32.30%	35.20%	32.00%