Thanks begin of I’ll comments detailed near by then the the our make financial Guy. results, I’ll more term some making markets. a about and on views review current
system ago. same for Technology Products just were from mentioned. million quarter the no this support down quarter $X.X million there the with second start to quarter me a $X.X contribution earlier providing year Seamap the being did compared repair begin versus large million Let quarter last totaled under services segment the which in in quarter quarter, one this year, in Marine segment. is due Mitsubishi the the the last year million Revenues year entered in $X revenues to revenue We this the sales during although agreement the nominal. Guy was to we that and $X.X
activity our lease and Included sales. $X.X just the in well million is ago. is from intra-segment million totaled as due compared The this second year the results. from leasing in $X of those as pool eliminated which quarter about segment Revenues in quarter to mostly $XXX,XXX quarter ago. a increase from equipment $X.X are greater were million, $X.X in to consolidated improved course amounts year in million leasing Second up a are Klein sales, revenues our I talked about
to sales and are As the evolving size will of part pool lease these market. composition of recall, our strategy to better the suit our you adjust
segments discuss let each the the of me Now of profitability briefly.
This profit mix which repair much quarter as gross business for The compared $X.X loss leasing had our a $X.X we was and improvement of gross differences With the Second primarily level in due to year marine a respectively. $X.X relatively business, or $XXX,XXX in expense equipment XX% the spare year our of in of In reported year. product gross expense greater million gross lower XXXX. depreciation quarter carry margin. $X.X products a XX% segment million revenues, and of of profit in margin and lower million a to $X.X to to technology over gross margins compared ago. a parts was second loss million second represents higher fell work, fiscal depreciation a quarter the higher million, leasing
and year’s $X.X for new any Our were to $X.X quarter. second start-up million In the the without offsetting $XXX,XXX million second costs revenues. last compared of administrative quarter, the line had XXXX for expenses of meaningful related quarter fiscal to general approximately SeaLink product current we
overhead a was Seamap year’s last $XXX,XXX $XXX,XXX also to costs compares level a of spent had quarter. R&D the in lower result unabsorbed about expense was sales. This direct We of which higher second quarter. for
the was an to year of operating second XXXX. $X.X million in for quarter the loss fiscal $X operating quarter this overall compared loss Our million second of
in Our adjusted compared last second a to $XXX,XXX year’s a loss second million quarter. was EBITDA loss quarter $X.X
We year position $X of and solid. second and had common end the share working a that ago. we $X.XX $XX million loss of to quarter million. Mitcham’s second financial of to equivalents included a $X.X a $X loss liquidity million also of capital, At cash million or per in shareholders quarter, compares remain reported This $X.XX about or of share. quarter attributable the roughly very per cash the and
year, having know, entirety credit Mitcham the of As free. last repaid remains facilities bank entirely debt you our
about just market with conclude Let remarks our comments few our outlook. a formal me
that to been began of quarter we anticipating. have some in technology the second The business exhibit marine improvement our
related positioned Mitcham now as weighed While costs opportunities global on our better many much timing marine, take the see advantage well start-up results, is that markets. the in as sonar and to we seismic the project of
for hydrographic, first year the think and be product half. as seismic, there in This half year’s as the Seamap will As We markets. of be on it and much related revenue second ramp year improved in the the the defense, based will discussed half stands least call, line improvement third over already visibility that start show two to we the the many security up opportunities now, of booked the we during year, system seeing are will well will believe as to the which oceanographic, at Sealink high the additional quarter. in orders second is deliveries significant we last of
to the order recently. new market for deliveries benefit our from quarter. bookings, to improved and we have that products Klein current it from inquiries overall which expect potential also fundamentals on last discussed related We customers, appears Based recent
of with as we’ve this Sealink seen efforts, end survey Sealink newest acquisition Through data marine which of offering. represents particularly and such system, well abundance sales as and customers’ pleased of technology our with opportunities our marketing companies. our penetration our an technological response users, to for to product align needs benefits institutes the research We’re product potential course of increase the
of our asset business, in America. lower structure should in conditions have seismic For to the we in overhead our North also certain consolidate the Europe weak, while we reduced and to South demand improve equipment as continue markets. relatively note utilization, that cost part still our are significantly costs I leasing as as well experience and operations, efforts exploration
absorbed. Specifically, and headcount will our contractors market some Colombia we the would U.S. The yield gradual benefit activity existing these seismic The have basis. on until We of benefits these the of an trending commodities should market activity Canada, have and in dramatically improved reduced physical such we’ll in forward, be land underutilized later have Alaska annualized Mitcham solid fundamentals estimate most favorably. and season presence $X eliminated initiatives the our improvement winter and presence already us. believe save as minimal show but of for an million in is see XX August to and about are supply Russia. any equipment, in more in going The may year the actions in since pool upcoming Canada excess company
to the markets In The emphasize our in exposure having our the technology do to the and greater seismic prior numerous of security are taking behind of opportunities underway, decreased we the of also repositioning and the industries. seismic this is our leasing the We in re-balancing segment access year, substantially hydrographic, challenges while on gained stable will and proactively to address gas downturn. doing we recovery circumstances products course business. land of more so, of the not These and and actions a long-lasting much fully return and to are eventual our continue the catalysts when main that and see segment emphasis to the defense, company. have to recovery sizeable activity activity maritime balance seen fundamental oceanographic, levels equipment not oil to are strategic the we marine rationalization leasing
much future maintain innovative to company’s in driven and concludes to That our for we a and shareholders. development the their proposition formal for and our any introduction being model multi-industry leverage market, seismic to markets new technology recovery do the marine our growth is of now While the by Operator, questions. our take believe more be and attractive value a revised remarks. this happy We is options. we’ll customers
