Press Release Source: TGC Industries, Inc.

TGC Industries Reports Third Quarter 2007 Results

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ARIES seismic recording systems versus five ARAM ARIES systems in use during last year's third quarter.

Income from operations during the third quarter of 2007 increased 32.7 percent to $3.3 million from $2.5 million a year ago, while cost of services was 70.1 percent of revenues in the third quarter of 2007 compared to 69.8 percent of revenues for the third quarter a year ago. Income from operations as a percentage of revenues was 13.5 percent in the third quarter of 2007 compared to 13.7 percent in the third quarter of 2006.

Income before income taxes was $3.1 million compared to $2.3 million a year ago. Income before income taxes as a percentage of revenues was 12.9 percent compared to 12.6 percent in the third quarter a year ago. The effective tax rate in the third quarter of 2007 was 41.5 percent compared to 40.5 percent in last year's third quarter. Third quarter net income rose 35.6 percent over a year ago to $1.8 million, or $0.11 per diluted share. Excluding the impact of the change in the estimated useful life of certain seismic equipment, third quarter net income was $1.4 million, or $0.08 per diluted share.

EBITDA (earnings before net interest expense, taxes, depreciation, and amortization) increased to $6.2 million in the third quarter of 2007 from $5.0 million in last year's third quarter. All per share amounts have been adjusted to reflect the five percent stock dividend declared on March 30, 2007 to shareholders of record as of April 13, 2007 and paid on April 27, 2007. A reconciliation of EBITDA (a non-GAAP financial measure) to reported earnings can be found in the financial tables.

YEAR-TO-DATE 2007

Revenues for the first nine months of 2007 were $64.5 million compared to $47.6 million during the same period last year. Income from operations was $9.4 million versus $10.8 million in the same period a year ago. Cost of services was 66.0 percent of revenues for the first nine months of 2007 compared to 60.2 percent of revenues for the first nine months of 2006. Net income for the first nine months of 2007 was $5.2 million, or $0.32 per diluted share, compared to $6.2 million, or $0.37 per diluted share for the same period in 2006. Excluding the impact of the change in the estimated useful life of certain seismic equipment, net income for the first nine months was $4.8 million, or $0.29 per diluted share. EBITDA was $19.1 million for the first nine months of 2007 compared to