Record Benthos Hydrophone Orders for Fiscal Year 2005 Exceed $6,800,000
Posted on: Wednesday, 14 September 2005, 09:00 CDT
Benthos, Inc. (NASDAQ: BTHS) announced today that it has received recent hydrophone and hydrophone component orders totaling over $400,000. With the inclusion of these orders, year to date fiscal year 2005 hydrophone product orders have exceeded $6,800,000, a record for the Company.
A hydrophone is an underwater microphone that is slightly larger than a AA battery and is used by geophysicists to locate oil and gas deposits beneath the ocean floor. Thousands of hydrophones are connected together in large streamer arrays, up to several kilometers long, that are towed behind survey ships. A sound source is then used to generate an acoustic wave that penetrates subterranean layers and reflects back to the hydrophones in the array. The output from the hydrophone array is processed to produce an image of the subterranean geology and is used by exploration geophysicists to identify potentially rich oil fields for future drilling. Benthos' innovative hydrophone design produces maximum fidelity and sensitivity in deep water seismic studies, allowing researchers to obtain more accurate data than earlier generations of hydrophones.
Benthos, Inc., through its Undersea Systems Division, designs, manufactures, sells and services a variety of oceanographic products for underwater tasks; and through its TapTone Package Inspection Systems Division makes systems for testing consumer packages made of glass, metal or plastic. The common stock of the Company is traded on the Nasdaq SmallCap market under the symbol "BTHS". For more information, Benthos can be found on the Internet at www.benthos.com.
Forward Looking Statements
The statements in this news release relating to plans, strategies, economic performance and trends and other statements that are not descriptions of historical facts are "forward-looking statements" within the meaning of the Federal Securities Laws. The Company believes that such statements are reasonable and are based on the beliefs of the Company's management as well as assumptions made by and information currently available to Company management. However, actual results could differ materially from those currently anticipated due to a number of factors that include: the timing of large project orders, competitive factors, shifts in customer demand, government spending, economic cycles, regulatory changes and other factors. More information about these factors is contained in the Company's filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described herein. The Company does not undertake and expressly disclaims any obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Source: Business Wire
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