Mitcham Industries Announces MA-X Sonar Product Deliveries

The Woodlands, Texas, Nov. 13, 2019 /PRNewswire/ -- Mitcham Industries, Inc. (Nasdaq: MIND) ("Mitcham" or the "Company") announced today that its Klein Marine Systems unit has completed initial deliveries of new products based on its MA-X "gap filler" sonar technology. Introduced earlier this year, MA-X technology is a cost-effective solution to filling the nadir gap that is characteristic of traditional side-scan sonar. By seamlessly covering the nadir region, MA-X based products eliminate the need for overlapping survey lines, resulting in an estimated 40% increase inefficiency.

Guy Malden, Co-CEO of Mitcham, commented, "The reaction by the industry to MA-X we believe has been nothing short of incredible. Both commercial and military customers have indicated their enthusiasm for this new technology as we have conducted a number of successful field demonstrations. We expect to deliver further orders in the coming weeks. MA-X technology can be embodied in several products, including towed-bodies for both manned and unmanned vessels, and autonomous underwater vehicle configurations. We expect the deployment of this technology to continue to gain momentum."

About Mitcham Industries

Mitcham Industries, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, Mitcham has a global presence with operating locations in the United States, Canada, Singapore, Malaysia, Hungary, Colombia and the United Kingdom. Mitcham's worldwide Marine Technology Products segment, which includes its Seamap and Klein Marine Systems units, designs, manufactures and sells specialized, high performance, marine sonar and seismic equipment. Through its Equipment Leasing segment, Mitcham believes it is the largest independent provider of exploration equipment to the seismic industry.

Rob Capps
Mitcham Industries, Inc.

Ken Dennard / Zach Vaughan
Dennard Lascar Investor Relations

Source Mitcham Industries, Inc.

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