SAExploration Holdings, Inc. announced unaudited consolidated earnings results for third quarter and nine months ended Sept. 30, 2017. For the quarter, the company reported revenue from services of $22,452,000, loss from operations of $4,534,000, loss before income taxes of $11,895,000, net loss of $13,845,000, net loss attributable to the corporation of $13,770,000, loss per share – basic and diluted of $1.46, adjusted LBITDA of $1,155,000 compared to the revenue from services of $32,994,000, loss from operations of $5,544,000, loss before income taxes of $16,251,000, net loss of $17,397,000, net loss attributable to the corporation of $17,412,000, loss per share – basic and diluted of $2.62, adjusted LBITDA of $138,000 for the same quarter a year ago. Capital expenditures for the third quarter in both 2017 and 2016 were $0.1 million. The low level of capital expenditures in both periods was primarily due to the continuation of unfavorable conditions in the oil and gas industry, which presented limited to no growth opportunities requiring capital expenditures. Revenues were primarily impacted by a large project in Bolivia during Third Quarter 2016 not being repeated in the same period this year, partially offset by a year-over-year increase in smaller projects in Colombia.

For the year to date, the company reported revenue from services of $122,180,000, income from operations of $6,718,000, loss before income taxes of $18,683,000, net loss of $22,858,000, net loss attributable to the corporation of $24,830,000, loss per share – basic and diluted of $2.65, adjusted EBITDA of $17,774,000 compared to the revenue from services of $180,196,000, income from operations of $23,297,000, income before income taxes of $4,654,000, net income of $104,000, net loss attributable to the corporation of $2,917,000, loss per share – basic and diluted of $1.26, adjusted EBITDA of $38,264,000 for the same period a year ago. Capital expenditures were $2.3 million compared to $0.8 million in the first nine months of 2016. Year-to-date 2017 capital expenditures primarily related to the remaining cash payments for the purchase of a set of vibrators in the fourth quarter of 2016, as well as the purchase of additional camp equipment and vibrators in the first quarter of 2017.

The company now expects its total capital expenditures for 2017 will be under $5.0 million.