Geospace Technologies Corporation amended its credit agreement with Frost Bank. Modifications to the Amended Credit Agreement include (i) an increase in available borrowings from $25 million to $50 million, (ii) an interest rate based on one-month LIBOR plus a margin of 2.50% to 3.25%, and (iii) an extension of the facility’s maturity date to April 27, 2016. The Amended Credit Agreement contains covenants, terms and conditions customary for similar financing agreements. Borrowings under the Amended Credit Agreement are not subject to a borrowing base.

Geospace Technologies Corporation designs and manufactures instruments and equipment used by the oil and gas industry to acquire seismic data in order to locate, characterize and monitor hydrocarbon producing reservoirs. The company also designs and manufactures non-seismic products, including industrial products, offshore cables, thermal printing equipment and film.