0001299933-15-000091.txt : 20150120 0001299933-15-000091.hdr.sgml : 20150119 20150120162053 ACCESSION NUMBER: 0001299933-15-000091 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150113 ITEM INFORMATION: Other Events FILED AS OF DATE: 20150120 DATE AS OF CHANGE: 20150120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MITCHAM INDUSTRIES INC CENTRAL INDEX KEY: 0000926423 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] IRS NUMBER: 760210849 STATE OF INCORPORATION: TX FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25142 FILM NUMBER: 15536237 BUSINESS ADDRESS: STREET 1: 8141 SH 75 SOUTH STREET 2: PO BOX 1175 CITY: HUNTSVILLE STATE: TX ZIP: 77342 BUSINESS PHONE: 9362912277 MAIL ADDRESS: STREET 1: P O BOX 1175 CITY: HUNTSVILLE STATE: TX ZIP: 77342 8-K 1 htm_51149.htm LIVE FILING Mitcham Industries, Inc. (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   January 13, 2015

Mitcham Industries, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Texas 000-25142 76-0210849
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
8141 SH 75 South, P.O. Box 1175, Huntsville, Texas   77342
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   936-291-2277

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On January 13, 2015, the Company's Board of Directors authorized the repurchase of up to 1,000,000 shares of the Company’s common stock through December 31, 2015.

A press release dated January 20, 2015 announcing the repurchase program is incorporated herein by reference and is included as Exhibit 99.1.





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    Mitcham Industries, Inc.
          
January 20, 2015   By:   Robert P. Capps
       
        Name: Robert P. Capps
        Title: Chief Financial Officer

Exhibit Index


     
Exhibit No.   Description
 
99.1
  Mitcham Industries, Inc. press release dated January 20, 2015.
EX-99.1 2 exhibit1.htm EX-99.1 EX-99.1

NEWS RELEASE

         
    Contacts:  
Rob Capps, EVP & CFO
Mitcham Industries, Inc.
936-291-2277
FOR IMMEDIATE RELEASE  
 

Jack Lascar / Jenny Zhou
Dennard ? Lascar Associates
713-529-6600

MITCHAM INDUSTRIES ANNOUNCES EXTENSION OF STOCK REPURCHASE PROGRAM

HUNTSVILLE, TX – January 20, 2015 – Mitcham Industries, Inc. (NASDAQ: MIND) (the “Company”) announced today that its Board of Directors has authorized a repurchase program for up to 1.0 million shares of the Company’s outstanding common stock through December 31, 2015. This is in addition to the previous share repurchase program which was completed in the quarter ended October 31, 2014.

“This new repurchase program demonstrates our continued commitment to shareholder returns, as well as our view that our shares currently offer an extremely attractive investment option,” said Rob Capps, Executive Vice President, Chief Financial Officer and Co-Chief Operating Officer. “We will continue to seek the right opportunities to repurchase our shares, while maintaining ample liquidity in this challenging environment.”

Purchases may be made from time to time, based on market conditions, legal requirements and other corporate considerations, in the open market or otherwise on a discretionary basis. The Company expects to finance any repurchases from a combination of cash on hand, cash provided by operating activities and proceeds from its revolving credit facility.

Mitcham Industries, Inc., a geophysical equipment supplier, offers for lease or sale, new and “experienced” seismic equipment to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. Headquartered in Texas, with sales and services offices in Calgary, Canada; Brisbane, Australia; Singapore; Ufa, Bashkortostan, Russia; Budapest, Hungary; Lima, Peru; Bogota, Colombia and the United Kingdom, Mitcham conducts operations on a global scale and is the largest independent exploration equipment lessor in the industry. Through its Seamap business, the Company designs, manufactures and sells specialized seismic marine equipment.

Certain statements and information in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature.  These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us.  While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate.  All comments concerning our expectations for future revenues and operating results are based on our forecasts of our existing operations and do not include the potential impact of any future acquisitions.  Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections.

For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.  We undertake no obligation to publically update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

# # #