Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2015	May 12, 2015
Document and Entity Information
Entity Registrant Name	DAWSON GEOPHYSICAL CO
Entity Central Index Key	0000799165
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		21,543,681
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 20,642,000	$ 14,644,000
Short-term investments	27,500,000	28,750,000
Accounts receivable, net of allowance for doubtful accounts of $763,000 at March 31, 2015 and $250,000 at December 31, 2014	57,795,000	37,133,000
Prepaid expenses and other assets	8,568,000	5,703,000
Current deferred tax asset	2,524,000	2,818,000
Total current assets	117,029,000	89,048,000
Property, plant and equipment	366,436,000	339,245,000
Less accumulated depreciation and amortization	(190,301,000)	(181,453,000)
Net property, plant and equipment	176,135,000	157,792,000
Intangibles	2,797,000
Total assets	295,961,000	246,840,000
Current liabilities:
Accounts payable	13,860,000	5,849,000
Accrued liabilities:
Payroll costs and other taxes	3,492,000	3,015,000
Other	5,629,000	3,158,000
Deferred revenue	5,522,000	1,752,000
Current maturities of notes payable and obligations under capital leases	11,250,000	6,018,000
Total current liabilities	39,753,000	19,792,000
Long-term liabilities:
Notes payable and obligations under capital leases less current maturities	7,921,000	4,209,000
Deferred tax liability	18,106,000	28,621,000
Total long-term liabilities	26,027,000	32,830,000
Commitments and contingencies
Stockholders' equity:
Preferred stock-par value $1.00 per share; 4,000,000 shares authorized, none outstanding at March 31, 2015; par value $1.00 per share, 5,000,000 shares authorized, none outstanding at December 31, 2014
Common stock-par value $0.01 per share, 35,000,000 shares authorized, 21,591,126 and 14,216,540 issued and outstanding at March 31, 2015 and December 31, 2014	216,000	142,000
Additional paid-in capital	141,983,000	99,084,000
Retained earnings	88,744,000	95,336,000
Accumulated other comprehensive loss, net of tax	(762,000)	(344,000)
Total stockholders' equity	230,181,000	194,218,000
Total liabilities and stockholders' equity	$ 295,961,000	$ 246,840,000

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS
Allowance for doubtful accounts	$ 763,000	$ 250,000
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized	4,000,000	5,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	21,591,126	14,216,540
Common stock, shares outstanding	21,591,126	14,216,540
Treasury stock, shares	48,445

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
Operating revenues	$ 73,722,000	$ 76,766,000
Operating costs:
Operating expenses	64,791,000	60,091,000
General and administrative	7,522,000	3,676,000
Depreciation and amortization	11,223,000	10,177,000
Operating Expenses, Total	83,536,000	73,944,000
(Loss) income from operations	(9,814,000)	2,822,000
Other income (expense):
Interest income	24,000	21,000
Interest expense	(147,000)	(161,000)
Other income (expense)	32,000	(343,000)
(Loss) income before income taxes	(9,905,000)	2,339,000
Income tax benefit (expense)	3,313,000	(687,000)
Net (loss) income	(6,592,000)	1,652,000
Other comprehensive loss:
Net unrealized loss on foreign exchange rate translations, net of tax	(418,000)	(107,000)
Comprehensive (loss) income	$ (7,010,000)	$ 1,545,000
Basic (loss) income per share attributable to common stock	$ (0.37)	$ 0.12
Diluted (loss) income per share attributable to common stock	$ (0.37)	$ 0.12
Cash dividend declared per share of common stock		$ 0.08
Weighted average equivalent common shares outstanding - Basic	18,021,366	14,009,358
Weighted average equivalent common shares outstanding-assuming dilution	18,021,366	14,075,988

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (6,592,000)	$ 1,652,000
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	11,223,000	10,177,000
Noncash compensation	531,000	298,000
Deferred income tax (benefit) expense	(3,418,000)	573,000
Other	(39,000)	99,000
Change in current assets and liabilities:
(Increase) decrease in accounts receivable	(6,211,000)	5,659,000
Increase in prepaid expenses and other assets	(819,000)	(60,000)
Increase in accounts payable	2,259,000	1,290,000
Decrease in accrued liabilities	(192,000)	(439,000)
(Decrease) increase in deferred revenue	(4,000)	4,101,000
Net cash (used in) provided by operating activities	(3,262,000)	23,350,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash acquired from merger	12,382,000
Capital expenditures, net of increase in accrued purchases of property and equipment summarized below	(1,189,000)	(6,370,000)
Proceeds from maturity of short-term investments	6,750,000	8,250,000
Acquisition of short-term investments	(5,500,000)	(6,750,000)
Proceeds from disposal of assets	603,000	163,000
Net cash provide by (used in) investing activities	13,046,000	(4,707,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Excess tax benefit from share based compensation	(340,000)
Tax withholdings related to stock based compensation awards	(120,000)
Principal payments on notes payable	(2,847,000)	(3,135,000)
Principal payments on capital lease obligations	(378,000)	(227,000)
Dividends paid		(645,000)
Net cash used in financing activities	(3,685,000)	(4,007,000)
Effect of exchange rate changes in cash and cash equivalents	(101,000)	(170,000)
Net increase in cash and cash equivalents	5,998,000	14,466,000
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	14,644,000	11,860,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD	20,642,000	26,326,000
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	152,000	168,000
Cash paid for income taxes	215,000	110,000
Cash received for income taxes	520,000
NONCASH INVESTING AND FINANCING ACTIVITIES:
Increase in accrued purchases of property and equipment	19,000	1,387,000
Capital lease obligations incurred	126,000	485,000
Stock consideration to consummate the merger	$ 42,902,000

ORGANIZATION AND NATURE OF OPERATIONS	3 Months Ended
ORGANIZATION AND NATURE OF OPERATIONS	Mar. 31, 2015
ORGANIZATION AND NATURE OF OPERATIONS
ORGANIZATION AND NATURE OF OPERATIONS	1. ORGANIZATION AND NATURE OF OPERATIONS Founded in 1952, the Company acquires and processes 2-D, 3-D and multi-component seismic data for its clients, ranging from major oil and gas companies to independent oil and gas operators as well as providers of multi-client data libraries.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation In the opinion of management of the Company, the accompanying unaudited financial statements reflect all adjustments, consisting only of normal recurring accruals, necessary for a fair statement of the results for the periods presented. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for the fiscal year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted in this Form 10-Q report pursuant to certain rules and regulations of the Securities and Exchange Commission (the “SEC”). These financial statements should be read with the financial statements and notes included in Exhibit 99.1 to the Company’s Form 8-K/A filed with the SEC on April 30, 2015. As discussed more fully in Note 3, on February 11, 2015, Legacy Dawson completed the merger with a wholly-owned subsidiary of Legacy TGC (“Merger Sub”), with Legacy Dawson continuing after the merger as the surviving entity and a wholly-owned subsidiary of Legacy TGC (the “Merger”). The Merger was accounted for as a purchase of Legacy TGC by Legacy Dawson in a “reverse acquisition” because the existing shareholders of Legacy TGC prior to the Merger did not have voting control of the combined entity after the Merger. In a reverse acquisition, the accounting treatment differs from the legal form of the transaction, as the continuing legal parent entity, Legacy TGC, is not assumed to be the acquirer and the financial statements of the combined entity are those of the accounting acquirer, Legacy Dawson, including any comparative prior year financial statements presented by the combined entity. Further, in connection with the Merger, Legacy Dawson changed its fiscal year end from September 30 to December 31. Consequently, the accompanying unaudited consolidated financial statements cover (i) the results of operations of Legacy Dawson for the fiscal period from January 1, 2014 through March 31, 2014 and (ii) the results of operations of Legacy Dawson for the fiscal period from January 1, 2015 through March 31, 2015 and the results of operations of Legacy TGC and its subsidiaries for the fiscal period from February 12, 2015 through March 31, 2015. Additionally, all historical equity accounts and awards of Legacy Dawson, including par value per share, share and per share numbers, have been adjusted to reflect the number of shares received in the Merger. The Company’s 2015 fiscal year will cover the period from January 1, 2015 through December 31, 2015. Significant Accounting Policies The preparation of the Company’s financial statements in conformity with generally accepted accounting principles requires that certain assumptions and estimates be made that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Because of the use of assumptions and estimates inherent in the reporting process, actual results could differ from those estimates. Principles of Consolidation. The consolidated financial statements for the fiscal period from January 1, 2014 through March 31, 2014 include the accounts of Legacy Dawson and its wholly-owned subsidiaries, Dawson Seismic Services Holdings, Inc. and Dawson Seismic Services ULC. The consolidated financial statements for the fiscal period from January 1, 2015 through March 31, 2015 include (i) the accounts of Legacy Dawson and its wholly-owned subsidiaries, Dawson Seismic Services Holdings, Inc. and Dawson Seismic Services ULC, for the fiscal period from January 1, 2015 through March 31, 2015 and (ii) the accounts of Legacy TGC and its other subsidiaries, Tidelands Geophysical Co., Inc., Exploration Surveys, Inc. and Eagle Canada, Inc., for the fiscal period from February 12, 2015 through March 31, 2015. All significant intercompany balances and transactions have been eliminated in consolidation. Cash Equivalents. The Company considers demand deposits, certificates of deposit, overnight investments, money market funds and all highly liquid debt instruments purchased with an initial maturity of three months or less to be cash equivalents. Allowance for Doubtful Accounts. Management prepares its allowance for doubtful accounts receivable based on its review of past-due accounts, its past experience of historical write-offs and its current client base. While the collectability of outstanding client invoices is continually assessed, the inherent volatility of the energy industry’s business cycle can cause swift and unpredictable changes in the financial stability of the Company’s clients. Property, Plant and Equipment. As discussed more fully in Note 3, the Merger was accounted for as a reverse acquisition, and the Company will account for the transaction by using Legacy Dawson’s historical information and accounting policies and adding the assets and liabilities of Legacy TGC as of the completion date of the Merger at their respective fair values. As a result, Legacy Dawson’s property, plant and equipment is capitalized at historical cost and depreciated over the useful life of the assets and Legacy TGC’s property, plant and equipment is included in the consolidated balance sheet at its estimated fair values. Management’s estimation of the useful life of assets is based on circumstances that exist in the seismic industry and information available at the time of the purchase of the asset. As circumstances change and new information becomes available, these estimates could change. Depreciation is computed using the straight-line method. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the balance sheet, and any resulting gain or loss is reflected in the results of operations for the period. For purposes of measuring the estimated fair value of the Legacy TGC assets acquired in the Merger, the Company used the guidance in Accounting Standards Codification (“ASC”) 820, “Fair Value Measurement and Disclosure.” ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Market participants are assumed to be buyers and sellers in the principal (most advantageous) market for the asset or liability. Additionally, under ASC 820, fair value measurements for an asset assume the highest and best use of that asset by market participants. As a result, the Company may be required to value assets of Legacy TGC at fair value measures that do not reflect the Company’s intended use of those assets. Use of different estimates and judgments could yield different results. Impairment of Long-lived Assets. Long-lived assets are reviewed for impairment when triggering events occur that suggest deterioration in the assets’ recoverability or fair value. Recognition of an impairment charge is required if future expected undiscounted net cash flows are insufficient to recover the carrying value of the assets and the fair value of the assets is below the carrying value of the assets. Management’s forecast of future cash flows used to perform impairment analysis includes estimates of future revenues and expenses based on the Company’s anticipated future results while considering anticipated future oil and natural gas prices, which is fundamental in assessing demand for the Company’s services. If the carrying amounts of the assets exceed the estimated expected undiscounted future cash flows, the Company measures the amount of possible impairment by comparing the carrying amount of the assets to the fair value. Leases. The Company leases certain equipment and vehicles under lease agreements. The Company evaluates each lease to determine its appropriate classification as an operating or capital lease for financial reporting purposes. Any lease that does not meet the criteria for a capital lease is accounted for as an operating lease. The assets and liabilities under capital leases are recorded at the lower of the present value of the minimum lease payments or the fair market value of the related assets. Assets under capital leases are amortized using the straight-line method over the initial lease term. Amortization of assets under capital leases is included in depreciation expense. Intangibles Acquired customer relationships and backlog are capitalized and amortized over useful lives ranging from five months to five years using the straight-line method of amortization. Trademarks/tradenames resulting from a business combination are not subject to amortization. The Company tests for impairment on an annual basis and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Revenue Recognition. Services are provided under cancelable service contracts. These contracts are either “turnkey” or “term” agreements. Under both types of agreements, the Company recognizes revenues when revenue is realizable and services have been performed. Services are defined as the commencement of data acquisition or processing operations. Revenues are considered realizable when earned according to the terms of the service contracts. Under turnkey agreements, revenue is recognized on a per unit of data acquired rate as services are performed. Under term agreements, revenue is recognized on a per unit of time worked rate as services are performed. In the case of a cancelled service contract, revenue is recognized and the customer is billed for services performed up to the date of cancellation. The Company receives reimbursements for certain out-of-pocket expenses under the terms of the service contracts. Amounts billed to clients are recorded in revenue at the gross amount, including out-of-pocket expenses that are reimbursed by the client. In some instances, customers are billed in advance of services performed. In those cases, the Company recognizes the liability as deferred revenue. As services are performed, those deferred revenue amounts are recognized as revenue. In some instances, the contract contains certain permitting, surveying and drilling costs that are incorporated into the per unit of data acquired rate. In these circumstances, these set up costs that occur prior to initiating revenue recognition are capitalized and amortized as services are provided. Stock-Based Compensation. The Company measures all employee stock-based compensation awards, which include restricted stock, restricted stock units, stock options and common stock awards, using the fair value method and recognizes compensation cost, net of estimated forfeitures, in its consolidated financial statements. The Company records compensation expense as operating or general and administrative expense as appropriate in the Consolidated Statements of Operations and Comprehensive Loss on a straight-line basis over the vesting period of the related restricted stock awards or stock options. Foreign Currency Translation. The U.S. Dollar is the reporting currency for all periods presented. The functional currency of the Company’s foreign subsidiaries is generally the local currency. All assets and liabilities denominated in a foreign currency are translated into U.S. Dollars at the exchange rate on the balance sheet date. Income and expenses are translated at the average exchange rate during the period. Equity transactions are translated using historical exchange rates. Adjustments resulting from translation are recorded as a separate component of accumulated other comprehensive loss in the consolidated balance sheets. Foreign currency gains (losses) are included in the Consolidated Statements of Operations and Comprehensive Loss. Income Taxes. The Company accounts for income taxes by recognizing amounts of taxes payable or refundable for the current year and by using an asset and liability approach in recognizing the amount of deferred tax assets and liabilities for the future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. Management determines deferred taxes by identifying the types and amounts of existing temporary differences, measuring the total deferred tax asset or liability using the applicable tax rate in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the year of an enacted rate change. The deferred tax asset is reduced by a valuation allowance if, based on available evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized. Management’s methodology for recording income taxes requires judgment regarding assumptions and the use of estimates, including determining the annual effective tax rate and the valuation of deferred tax assets, which can create variances between actual results and estimates and could have a material impact on the Company’s provision or benefit for income taxes. The Company’s effective tax rates differ from the statutory federal rate of 35% for certain items such as state and local taxes, non-deductible expenses, discrete items and expenses related to share-based compensation that were not expected to result in a tax deduction. Use of Estimates in the Preparation of Financial Statements. Preparation of the accompanying financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Because of the use of assumptions and estimates inherent in the reporting process, actual results could differ from those estimates. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 that introduces a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt ASU 2014-09. On April 29, 2015, the FASB issued an exposure draft with a 30-day comment period that proposes a one-year deferral of the effective date of the new revenue standard. If the deferral passes a final vote, the guidance would be effective for the Company’s fiscal year beginning January 2018. The Company is monitoring the FASB’s decision on the proposed deferral and is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements and the method of adoption. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern” (Subtopic 205-40). This ASU provides guidance on management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and in certain circumstances to provide related footnote disclosures. This ASU is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the new guidance; however, it does not expect any impact on its consolidated financial statements.

Merger

3 Months Ended

Mar. 31, 2015

MERGER

MERGER

3. MERGER

On February 11, 2015, the Company completed the Merger. Immediately prior to the effective time of the Merger, Legacy TGC affected a reverse stock split with respect to its common stock, par value $0.01 per share (“Legacy TGC Common Stock”), on a one-for-three ratio (the “Reverse Stock Split”) to reduce the total number of shares of Legacy TGC Common Stock outstanding. After giving effect to the Reverse Stock Split, at the effective time of the Merger, without any action on the part of any shareholder, each issued and outstanding share of Legacy Dawson’s common stock, par value $0.33-1/3 per share (the “Legacy Dawson Common Stock”), including shares underlying Legacy Dawson’s outstanding equity awards (but excluding any shares of Legacy Dawson Common Stock owned by Legacy TGC, Merger Sub or Legacy Dawson or any wholly-owned subsidiary of Legacy Dawson), were converted into the right to receive 1.760 shares of Legacy TGC Common Stock (the “Exchange Ratio”).

As described in Note 1, the Merger was accounted for as a reverse acquisition under the acquisition method of accounting in accordance with ASC 805, “Business Combinations.” The Company will account for the transaction by using Legacy Dawson’s historical information and accounting policies and adding the assets and liabilities of Legacy TGC at their respective fair values. Consequently, Legacy Dawson’s assets and liabilities retained their carrying values and Legacy TGC’s assets acquired and liabilities assumed by Legacy Dawson as the accounting acquirer in the Merger have been recorded at their fair values measured as of February 11, 2015, the effective date of the Merger.

The Company continues to evaluate the available information, and the purchase price allocation is subject to finalization of the Company’s analysis of the fair value of the assets and liabilities of Legacy TGC as of the effective date of the Merger. Accordingly, the purchase price allocation is preliminary and will be adjusted upon completion of the final valuation. Such adjustments could be material.

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the Merger date (in thousands):

	Estimated Fair
TGC Industries, Inc.-Assets Acquired	Value

Stock Consideration	$	42,902
Interest Bearing Debt Assumed	12,048
Total Purchase Price Consideration	54,950
Debt-free Current Liabilities	12,647
Total Equity and Liabilities	$	67,597

Value of Current Assets
Current Assets excluding Cash and Equivalents	16,156
Cash and Equivalents	12,382
Total Current Assets	$	28,538

Identified Tangible Assets
Fair Value of Property, Plant and Equipment	28,812
Total Identified Tangible Assets	$	28,812

Identified Intagible Assets
Trademarks/Trade Names	1,063
Customer Relationships	1,799
Backlog	491
Total Identifiable Intangible Assets	$	3,353

Deferred Tax Asset	$	6,894

Total Indicated Value of Assets	$	67,597

The value of the stock consideration was determined based on the $5.85 closing price of Legacy TGC on the February 11, 2015 closing date and the 7,333,708 shares outstanding. As a result of the consideration transferred being less than the book value of net assets acquired, the Company is required to analyze the purchase price allocation and the potential reasonableness of reflecting a bargain purchase. Upon completing this analysis, the Company determined that the Merger is not an acquisition of a distressed business or a bargain purchase and accordingly reflected a substantial reduction in the property, plant and equipment to its fair value which is reflected by the value of the consideration transferred. Furthermore, in allocating the remainder of the purchase price to the indicated fair value of the property, plant and equipment, there is not any excess purchase price to be allocated to goodwill. Measurements used to determine fair value are deemed to be level 3 Fair Value Measurements.

Trade receivables and payables, as well as other current and non-current assets and liabilities were valued at the existing carrying values as they represented the fair value of those items at the time of the Merger, based on management’s judgments and estimates.

Property, plant and equipment have been valued using a combination of the income approach, the market approach and cost approach which is based on current replacement and/or reproduction cost of the asset as new, less depreciation attributable to physical, functional, and economic factors. Useful lives of the property, plant and equipment were estimated to be between 2 and 15 years.

Trademarks have been valued using the relief from royalty method. Relief from royalty method under the income approach estimates the cost savings that accrue to the Company which would otherwise have to pay royalties or license fees on revenues earned through the use of the asset. Trademarks are considered to have an indefinite life and as a result are not amortizable.

Customer relationships and backlog were valued using the excess earnings method, where estimated margins, customer attrition, and contributory asset charge assumptions are used. The useful lives of customer relationships is estimated to be 5 years, and the estimated useful weighted average life of backlog is expected to be 5 months. At, March 31, 2015, the carrying value of our customer relationships was approximately $1,799,000 and the accumulated amortization was approximately $147,000, and the carrying value of our back log was $491,000 and the accumulated amortization was $76,000.

Existing long term debt assumed in the Merger was fair valued based on a current market rate.

Deferred income tax assets and liabilities as of the acquisition date represent the expected future tax consequences of temporary differences between the fair values of the assets acquired and liabilities assumed and their tax bases. At the acquisition date the Company accrued $750,000 for contingencies related to certain tax matters.

The Company incurred approximately $2,600,000 in Merger related costs on a pretax basis. The Company also incurred $530,000 related to severance and compensation arrangements pursuant to existing agreements with certain former employees in connection with the Merger. These amounts are reflected in the accompanying statement of operations.

Since the acquisition date, Company’s income statement includes $8,592,000 of revenues from Legacy TGC and $2,837,000 of net loss of Legacy TGC.

Pro Forma Information

The following unaudited pro forma condensed financial information for the three months ended March 31, 2015 and 2014 gives effect to the Merger as if it had occurred on January 1, 2014. The unaudited pro forma condensed financial information has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the transactions taken place on the dates indicated and is not intended to be a projection of future results. The unaudited pro forma financial information reflects certain adjustments related to the acquisition, such as (1) to record certain incremental expenses resulting from purchase accounting adjustments, such as reduced depreciation and amortization expense in connection with the fair value adjustments to property, plant and equipment, and intangible assets; and (2) to record the related tax effects. Shares used in the calculations of earnings per share in the table below were 21,647,889 and 21,328,048 in 2015 and 2014, respectively.

	2015			2014
Pro forma total revenues	$	87,332,000		$	125,567,000
Pro forma net (loss) income	$	(10,569,000	)	$	8,958,000

Pro forma net income per share:
Basic	$	(0.49	)	$	0.42
Diluted	$	(0.49	)	$	0.42

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

SHORT-TERM INVESTMENTS	3 Months Ended
SHORT-TERM INVESTMENTS	Mar. 31, 2015
SHORT-TERM INVESTMENTS
SHORT-TERM INVESTMENTS	4. SHORT-TERM INVESTMENTS The Company had short-term investments at March 31, 2015 and December 31, 2014 consisting of certificates of deposit with original maturities greater than three months, but less than a year. Certificates of deposit are limited to one per banking institution and no single investment exceeded the FDIC insurance limit at March 31, 2015 or December 31, 2014.

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Mar. 31, 2015
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	5. FAIR VALUE OF FINANCIAL INSTRUMENTS At March 31, 2015 and December 31, 2014, the Company’s financial instruments included cash and cash equivalents, short-term investments in certificates of deposit, trade and other receivables, other current assets, accounts payable, other current liabilities, term notes, capital leases and other contractual obligations (defined below). Due to the short-term maturities of cash and cash equivalents, trade and other receivables, other current assets, accounts payable and other current liabilities, the carrying amounts approximate fair value at the respective balance sheet dates. The carrying value of the term notes approximate their fair value based on a comparison with the prevailing market interest rate. Due to the short-term maturities of the Company’s investments in certificates of deposit, the carrying amounts approximate fair value at the respective balance sheet dates. The fair values of the Company’s notes payable and investments in certificates of deposit are Level 2 measurements in the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

DEBT

3 Months Ended

Mar. 31, 2015

DEBT

DEBT

6. DEBT

Each of Legacy Dawson and Legacy TGC had a credit agreement in effect prior to the Merger (the “Legacy Dawson Credit Agreement” and the “Legacy TGC Credit Agreement,” respectively), which continue in effect as obligations of the Company following the Merger. Both the Legacy Dawson Credit Agreement and Legacy TGC Credit Agreement provide for a revolving line of credit and term loans to be made pursuant to notes, as further described below.

Legacy Dawson Indebtedness

The Company has three outstanding notes payable under the term loan feature of the Legacy Dawson Credit Agreement, representing a remaining aggregate principal amount of $6,777,000 and $8,577,000 as of March 31, 2015 and December 31, 2014, respectively. In addition, the Legacy Dawson Credit Agreement permits the Company to borrow, repay and reborrow, from time to time until June 2, 2015, up to $20.0 million or 80% of the Company’s eligible accounts receivable (the “Legacy Dawson Line of Credit”). The Company did not utilize the Legacy Dawson Line of Credit during the current year or the twelve months ended December 31, 2014 and has the full Legacy Dawson Line of Credit available for borrowing. The Company is currently in the process of discussing the renewal of this credit facility. We anticipate it will be renewed in the second quarter.

The Company’s obligations under the Legacy Dawson Credit Agreement are secured by a security interest in Legacy Dawson’s accounts receivable, equipment and related collateral. Interest on amounts outstanding under the Legacy Dawson Credit Agreement accrues at an annual rate equal to either the 30-day London Interbank Offered Rate (“LIBOR”), plus two and one-quarter percent, or the Prime Rate, minus three-quarters percent, as the Company directs monthly, subject to an interest rate floor of 4%. Interest on the outstanding amount under the Legacy Dawson Credit Agreement is payable monthly. The Legacy Dawson Credit Agreement contains customary covenants for credit facilities of this type, including limitations on disposition of assets, mergers and reorganizations. The Company is also obligated to meet certain financial covenants, including maintaining an average debt service coverage ratio of at least of 1.5 to 1.0, a ratio of debt to tangible net worth not in excess of 1.5 to 1.0 and a ratio of current assets to current liabilities of at least 1.5 to 1.0, in each case measured quarterly. The Company was in compliance with all covenants under the Legacy Dawson Credit Agreement, including specified ratios, as of March 31, 2015 and December 31, 2014.

In addition, the Company leases vehicles and certain specialized seismic equipment under leases classified as capital leases. The Company’s balance sheet as of March 31, 2015 and December 31, 2014 includes capital lease obligations of $1,474,000 and $1,650,000, respectively, relating to Legacy Dawson’s capital leases prior to and following the Merger.

Legacy TGC Indebtedness

The Company has three outstanding notes payable under the term loan feature of the Legacy TGC Credit Agreement, representing a remaining aggregate principal amount of $9,265,000 as of March 31, 2015. In addition, the Legacy TGC Credit Agreement permits the Company to borrow, repay and reborrow, from time to time until September 16, 2015, up to the lesser of $5.0 million or 80% of the Company’s eligible accounts receivable (the “Legacy TGC Line of Credit”). The Company did not utilize the Legacy TGC Line of Credit during the current year and has the full Legacy TGC Line of Credit available for borrowing.

The Company’s obligations under the Legacy TGC Line of Credit are secured by a security interest in Legacy TGC’s accounts receivable, and the term notes are secured by certain of Legacy TGC’s core equipment. Interest on amounts outstanding under the Legacy TGC Credit Agreement accrues at the greater of the prime rate as quoted in the Wall Street Journal or 5%. The Legacy TGC Credit Agreement contains customary covenants for credit facilities of this type, including limitations on disposition of assets, mergers and other fundamental changes. The Company is also obligated to meet certain financial covenants, including maintaining a minimum debt service coverage ratio in excess of 2.0 to 1.0, a ratio of debt to worth not in excess of 1.25 to 1.0 and a minimum tangible net worth of at least $55.0 million. Except as described in the following sentence, the Company was in compliance with all covenants under the Legacy TGC Credit Agreement, including specified ratios, as of March 31, 2015. The Company was not in compliance at March 31, 2015, and Legacy TGC was not in compliance at December 31, 2014, with the financial covenant related to the debt service coverage ratio. The Company obtained a letter of waiver from the lender that waived all defaults for compliance with the debt service coverage ratio through March 31, 2016.

In addition, the Company has one outstanding note, in the remaining principal amount of $673,000, which was held by Legacy TGC prior to the Merger, payable to a commercial bank for an equipment purchase. Interest on amounts outstanding under such note accrues at an annual rate equal to 4.60% and is payable monthly. This note is secured by certain of Legacy TGC’s core equipment and matures on June 5, 2015.

The Company also has one outstanding note, in the remaining principal amount of $80,000 at March 31, 2015, which was held by Legacy TGC prior to the Merger, payable to a finance company for insurance. Interest on amounts outstanding under such note accrues at an annual rate equal to 4.09% and is payable monthly. This note is secured by certain of Legacy TGC’s core equipment.

In addition, the Company’s balance sheet as of March 31, 2015 includes capital lease obligations of $902,000 relating to Legacy TGC’s capital lease obligations.

The following tables set forth the aggregate principal amount outstanding under the Company’s outstanding notes payable and the interest rates and monthly payments as of March 31, 2015 and December 31, 2014 with respect to the same. Information as of December 31, 2014 does not include indebtedness of Legacy TGC as of such date, due to the accounting treatment of the Merger as a reverse acquisition as described in Notes 2 and 3.

	March 31, 2015	December 31, 2014
Notes payable to commercial banks
Aggregate principal amount outstanding	$16,715,000	$8,577,000
Interest rates	3.5%-4.6%	3.5%-4.6%
Monthly payments (excluding interest)	$128,363-290,938	$128,363-290,938

	March 31, 2015			December 31, 2014
Notes payable to finance company for insurance
Aggregate principal amount outstanding	$	80,000		—
Interest rates	4.09		%	—
Monthly payments (excluding interest)	$	14,674		—

The aggregate maturities of the notes payable at March 31, 2015 are as follows:

April 2015 — March 2016	$	9,887,000
April 2016 — March 2017	5,892,000
April 2017 — March 2018	1,016,000
	$	16,795,000

The Company leases vehicles and certain specialized seismic equipment under leases classified as capital leases. The aggregate maturities of obligations under capital leases at March 31, 2015 are as follows:

April 2015 – March 2016	$	1,363,000
April 2016 – March 2017	743,000
April 2017 – March 2018	270,000
	$	2,376,000

Interest rates on these leases ranged from 3.76% to 8.17%.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2015

COMMITMENTS AND CONTINGENCIES.

COMMITMENTS AND CONTINGENCIES

7. COMMITMENTS AND CONTINGENCIES

On December 22, 2014, Legacy Dawson received a letter dated December 18, 2014 from legal counsel for a purported shareholder demanding that the members of Legacy Dawson’s Board of Directors at the time the action was initiated (the “Legacy Dawson Board”) take appropriate legal action against the members of the Legacy Dawson Board (the “December Demand Letter”). The December Demand Letter alleges conflicts of interest on the part of certain of Legacy Dawson officers and directors in connection with the Merger, disclosure deficiencies by Legacy Dawson with respect to the Merger and the negotiations leading to the merger agreement and breaches of fiduciary duties by such persons in connection with such matters. The December Demand Letter also demanded that Legacy Dawson make various corrective disclosures concerning the Merger.

In addition, on January 7, 2015, Andrew Speese, through his attorney, filed a purported shareholder class action and derivative action relating to the Merger on behalf of himself and Legacy Dawson’s other shareholders in the United States District Court for the Western District of Texas (Midland/Odessa Division), against Legacy Dawson, the Legacy Dawson Board, Legacy TGC and Merger Sub (the “Speese Lawsuit”). In connection with the filing of the Speese Lawsuit, on January 8, 2015, Legacy Dawson received a letter dated January 7, 2015 from legal counsel for Andrew Speese demanding that the Legacy Dawson Board take legal action to remedy alleged breaches of fiduciary duties in connection with the strategic business combination and to recover damages caused by such alleged breaches (the “Speese Demand Letter”). On March 16, 2015, Andrew Speese, through his attorney, dismissed the Speese Lawsuit without prejudice; however, counsel for Andrew Speese has not formally withdrawn the Speese Demand Letter.

The Legacy Dawson Board formed a Special Litigation Committee, which committee is authorized to retain independent legal counsel, to investigate the claims in the demand letters described above. That committee is continuing to function following the consummation of the Merger.

Further, from time to time, the Company is a party to various legal proceedings arising in the ordinary course of business. Although the Company cannot predict the outcomes of any such legal proceedings, management believes that the resolution of pending legal actions will not have a material adverse effect on the Company’s financial condition, results of operations or liquidity, as the Company believes it is adequately indemnified and insured.

The Company experiences contractual disputes with its clients from time to time regarding the payment of invoices or other matters. While the Company seeks to minimize these disputes and maintain good relations with its clients, the Company has in the past experienced, and may in the future experience, disputes that could affect its revenues and results of operations in any period.

The Company has non-cancelable operating leases for office space in Midland, Houston, Plano, Denison, Denver, Oklahoma City, Pittsburgh and Calgary, Alberta.

The following table summarizes payments due in specific periods related to the Company’s contractual obligations with initial terms exceeding one year as of March 31, 2015.

	Payments Due by Period (in 000’s)
	Total		Within 1 Year		2-3 Years		4-5 Years		After 5 Years
Operating lease obligations (office space)	$	3,739	$	1,191	$	1,971	$	481	$	96

Some of the Company’s operating leases contain predetermined fixed increases of the minimum rental rate during the initial lease term. For these leases, the Company recognizes the related expense on a straight-line basis and records deferred rent as the difference between the amount charged to expense and the rent paid. Rental expense under the Company’s operating leases with initial terms exceeding one year was $357,000 and $242,000 for the three month periods ended March 31, 2015 and 2014, respectively.

As of March 31, 2015, the Company had unused letters of credit totaling approximately $233,000. The Company’s letters of credit principally back obligations associated with the Legacy Dawson’s self-insured retention on workers’ compensation claims. The Company was no longer self-insured for workers’ compensation claims after October 1, 2011. The unused letters of credit outstanding at March 31, 2015 are associated with workers’ compensation claims outstanding prior to October 1, 2011.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK

3 Months Ended

Mar. 31, 2015

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK

8. NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK

Net (loss) income per share attributable to common stock is calculated using the two-class method. The two-class method is an allocation method of calculating (loss) earnings per share when a company’s capital structure includes participating securities that have rights to undistributed earnings. The Company’s employees and officers that hold unvested restricted stock are entitled to dividends when the Company pays dividends.

The Company’s basic net (loss) income per share attributable to common stock is computed by reducing the Company’s net (loss) income by the net (loss) income allocable to unvested restricted stockholders that have a right to participate in earnings. The Company’s employees and officers that hold unvested restricted stock do not participate in losses because they are not contractually obligated to do so. The undistributed earnings are allocated based on the relative percentage of the weighted average unvested restricted stock awards. The basic net (loss) income per share attributable to common stock is computed by dividing the net (loss) income attributable to common stock by the weighted average shares outstanding. The weighted average number of shares outstanding for the three months ended March 31, 2015 was calculated by totaling (i) the product of (x) the weighted shares of Legacy Dawson Common Stock outstanding at the beginning of the period multiplied by (y) the Exchange Ratio, plus (ii) the number of shares associated with awards of Legacy Dawson restricted stock and restricted stock units that vested in conjunction with the Merger, weighted as of February 11, 2015, plus (iii) the number of shares of Legacy TGC Common Stock outstanding immediately prior to the Merger, weighted to reflect that such shares were outstanding from February 11, 2015 until the end of the period. The weighted average number of shares outstanding for the three months ended March 31, 2014 was calculated by multiplying the weighted average shares of Legacy Dawson Common Stock outstanding during the period by the Exchange Ratio. The Company’s dilutive net (loss) income per share attributable to common stock is computed by adjusting basic net (loss) income per share attributable to common stock by diluted (loss) income allocable to unvested restricted stock divided by weighted average diluted shares outstanding. A reconciliation of the basic and diluted loss per share attributable to common stock is as follows:

	Three Months Ended March 31,
	2015			2014
	(in 000’s)
Net (loss) income	$	(6,592	)	$	1,652
Income allocable to unvested restricted stock	—			(21		)
Basic (loss) income attributable to common stock	$	(6,592	)	$	1,631
Reallocation of participating earnings	—			—
Diluted (loss) income attributable to common stock	$	(6,592	)	$	1,631
Weighted average common shares outstanding:
Basic	18,021,366			14,009,358
Dilutive common stock options and restricted stock units	—			66,630
Diluted	18,021,366			14,075,988
Basic (loss) income attributable to a share of common stock	$	(0.37	)	$	0.12
Diluted (loss) income attributable to a share of common stock	$	(0.37	)	$	0.12

The Company had a net loss in the three months ended March 31, 2015. As a result, all stock options and restricted stock units were anti-dilutive and excluded from weighted average shares used in determining the loss attributable to share of common stock for the respective periods. There were no shares that had anti-dilutive effect on the calculation of dilutive income attributable to common stock for the quarter ended March 31, 2014.

None of the Company’s stock options or restricted stock units were dilutive for the three months ended March 31, 2015 due to the loss in that period. The following weighted average numbers of stock options and restricted stock units have been excluded from the calculation of diluted loss per share attributable to common stock, as their effect would be anti-dilutive for the three months ended March 31, 2014:

Stock options		92,315
Restricted stock units		15,832
Total		108,147

Shares of 46,500 and 103,500 respectively of unvested restricted stock at March 31, 2015 and 2014 are included in common stock outstanding as such shares have a nonforfeitable right to participate in any dividends that might be declared and have the right to vote.

- Definition

The entire disclosure for earnings per share.

+ References+ Details

QUARTERLY DIVIDEND	3 Months Ended
QUARTERLY DIVIDEND	Mar. 31, 2015
QUARTERLY DIVIDEND
QUARTERLY DIVIDEND	9. QUARTERLY DIVIDEND On February 3, 2014, the Legacy Dawson Board approved the commencement of the payment of an $0.08 per share quarterly cash dividend to shareholders, subject to capital availability and a determination that cash dividends continue to be in the best interest of Legacy Dawson. Quarterly dividends were paid on February 24, 2014, May 30, 2014, August 29, 2014 and December 8, 2014 to Legacy Dawson’s shareholders of record at the close of business on February 14, 2014, May 16, 2014, August 15, 2014 and November 24, 2014, respectively, representing an aggregate dividend of approximately $645,000 based on the number of issued and outstanding shares of Common Stock as of the declaration date, or approximately $2,580,000 on an annualized basis. Following the Merger, the combined Company’s Board of Directors, after consideration of general economic and market conditions affecting the energy industry in general, and the oilfield services business in particular, has determined that the Company will not pay a dividend in respect of the quarters ended December 31, 2014 and March 31, 2015 or for the foreseeable future. Payment of any dividends in the future will be at the discretion of the Company’s Board of Directors and will depend on the Company’s financial condition, results of operations, capital and legal requirements, and other factors deemed relevant by the Board of Directors.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation	Principles of Consolidation. The consolidated financial statements for the fiscal period from January 1, 2014 through March 31, 2014 include the accounts of Legacy Dawson and its wholly-owned subsidiaries, Dawson Seismic Services Holdings, Inc. and Dawson Seismic Services ULC. The consolidated financial statements for the fiscal period from January 1, 2015 through March 31, 2015 include (i) the accounts of Legacy Dawson and its wholly-owned subsidiaries, Dawson Seismic Services Holdings, Inc. and Dawson Seismic Services ULC, for the fiscal period from January 1, 2015 through March 31, 2015 and (ii) the accounts of Legacy TGC and its other subsidiaries, Tidelands Geophysical Co., Inc., Exploration Surveys, Inc. and Eagle Canada, Inc., for the fiscal period from February 12, 2015 through March 31, 2015. All significant intercompany balances and transactions have been eliminated in consolidation.
Cash Equivalents	Cash Equivalents. The Company considers demand deposits, certificates of deposit, overnight investments, money market funds and all highly liquid debt instruments purchased with an initial maturity of three months or less to be cash equivalents.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts. Management prepares its allowance for doubtful accounts receivable based on its review of past-due accounts, its past experience of historical write-offs and its current client base. While the collectability of outstanding client invoices is continually assessed, the inherent volatility of the energy industry’s business cycle can cause swift and unpredictable changes in the financial stability of the Company’s clients.
Property, Plant and Equipment	Property, Plant and Equipment. As discussed more fully in Note 3, the Merger was accounted for as a reverse acquisition, and the Company will account for the transaction by using Legacy Dawson’s historical information and accounting policies and adding the assets and liabilities of Legacy TGC as of the completion date of the Merger at their respective fair values. As a result, Legacy Dawson’s property, plant and equipment is capitalized at historical cost and depreciated over the useful life of the assets and Legacy TGC’s property, plant and equipment is included in the consolidated balance sheet at its estimated fair values. Management’s estimation of the useful life of assets is based on circumstances that exist in the seismic industry and information available at the time of the purchase of the asset. As circumstances change and new information becomes available, these estimates could change. Depreciation is computed using the straight-line method. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the balance sheet, and any resulting gain or loss is reflected in the results of operations for the period. For purposes of measuring the estimated fair value of the Legacy TGC assets acquired in the Merger, the Company used the guidance in Accounting Standards Codification (“ASC”) 820, “Fair Value Measurement and Disclosure.” ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Market participants are assumed to be buyers and sellers in the principal (most advantageous) market for the asset or liability. Additionally, under ASC 820, fair value measurements for an asset assume the highest and best use of that asset by market participants. As a result, the Company may be required to value assets of Legacy TGC at fair value measures that do not reflect the Company’s intended use of those assets. Use of different estimates and judgments could yield different results.
Impairment of Long-lived Assets	Impairment of Long-lived Assets. Long-lived assets are reviewed for impairment when triggering events occur that suggest deterioration in the assets’ recoverability or fair value. Recognition of an impairment charge is required if future expected undiscounted net cash flows are insufficient to recover the carrying value of the assets and the fair value of the assets is below the carrying value of the assets. Management’s forecast of future cash flows used to perform impairment analysis includes estimates of future revenues and expenses based on the Company’s anticipated future results while considering anticipated future oil and natural gas prices, which is fundamental in assessing demand for the Company’s services. If the carrying amounts of the assets exceed the estimated expected undiscounted future cash flows, the Company measures the amount of possible impairment by comparing the carrying amount of the assets to the fair value.
Leases	Leases. The Company leases certain equipment and vehicles under lease agreements. The Company evaluates each lease to determine its appropriate classification as an operating or capital lease for financial reporting purposes. Any lease that does not meet the criteria for a capital lease is accounted for as an operating lease. The assets and liabilities under capital leases are recorded at the lower of the present value of the minimum lease payments or the fair market value of the related assets. Assets under capital leases are amortized using the straight-line method over the initial lease term. Amortization of assets under capital leases is included in depreciation expense.
Intangibles	Intangibles Acquired customer relationships and backlog are capitalized and amortized over useful lives ranging from five months to five years using the straight-line method of amortization. Trademarks/tradenames resulting from a business combination are not subject to amortization. The Company tests for impairment on an annual basis and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount.
Revenue Recognition	Revenue Recognition. Services are provided under cancelable service contracts. These contracts are either “turnkey” or “term” agreements. Under both types of agreements, the Company recognizes revenues when revenue is realizable and services have been performed. Services are defined as the commencement of data acquisition or processing operations. Revenues are considered realizable when earned according to the terms of the service contracts. Under turnkey agreements, revenue is recognized on a per unit of data acquired rate as services are performed. Under term agreements, revenue is recognized on a per unit of time worked rate as services are performed. In the case of a cancelled service contract, revenue is recognized and the customer is billed for services performed up to the date of cancellation. The Company receives reimbursements for certain out-of-pocket expenses under the terms of the service contracts. Amounts billed to clients are recorded in revenue at the gross amount, including out-of-pocket expenses that are reimbursed by the client. In some instances, customers are billed in advance of services performed. In those cases, the Company recognizes the liability as deferred revenue. As services are performed, those deferred revenue amounts are recognized as revenue. In some instances, the contract contains certain permitting, surveying and drilling costs that are incorporated into the per unit of data acquired rate. In these circumstances, these set up costs that occur prior to initiating revenue recognition are capitalized and amortized as services are provided.
Stock-Based Compensation	Stock-Based Compensation. The Company measures all employee stock-based compensation awards, which include restricted stock, restricted stock units, stock options and common stock awards, using the fair value method and recognizes compensation cost, net of estimated forfeitures, in its consolidated financial statements. The Company records compensation expense as operating or general and administrative expense as appropriate in the Consolidated Statements of Operations and Comprehensive Loss on a straight-line basis over the vesting period of the related restricted stock awards or stock options.
Foreign Currency Translation	Foreign Currency Translation. The U.S. Dollar is the reporting currency for all periods presented. The functional currency of the Company’s foreign subsidiaries is generally the local currency. All assets and liabilities denominated in a foreign currency are translated into U.S. Dollars at the exchange rate on the balance sheet date. Income and expenses are translated at the average exchange rate during the period. Equity transactions are translated using historical exchange rates. Adjustments resulting from translation are recorded as a separate component of accumulated other comprehensive loss in the consolidated balance sheets. Foreign currency gains (losses) are included in the Consolidated Statements of Operations and Comprehensive Loss.
Income Taxes	Income Taxes. The Company accounts for income taxes by recognizing amounts of taxes payable or refundable for the current year and by using an asset and liability approach in recognizing the amount of deferred tax assets and liabilities for the future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. Management determines deferred taxes by identifying the types and amounts of existing temporary differences, measuring the total deferred tax asset or liability using the applicable tax rate in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the year of an enacted rate change. The deferred tax asset is reduced by a valuation allowance if, based on available evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized. Management’s methodology for recording income taxes requires judgment regarding assumptions and the use of estimates, including determining the annual effective tax rate and the valuation of deferred tax assets, which can create variances between actual results and estimates and could have a material impact on the Company’s provision or benefit for income taxes. The Company’s effective tax rates differ from the statutory federal rate of 35% for certain items such as state and local taxes, non-deductible expenses, discrete items and expenses related to share-based compensation that were not expected to result in a tax deduction.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements. Preparation of the accompanying financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Because of the use of assumptions and estimates inherent in the reporting process, actual results could differ from those estimates.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 that introduces a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt ASU 2014-09. On April 29, 2015, the FASB issued an exposure draft with a 30-day comment period that proposes a one-year deferral of the effective date of the new revenue standard. If the deferral passes a final vote, the guidance would be effective for the Company’s fiscal year beginning January 2018. The Company is monitoring the FASB’s decision on the proposed deferral and is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements and the method of adoption. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern” (Subtopic 205-40). This ASU provides guidance on management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and in certain circumstances to provide related footnote disclosures. This ASU is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the new guidance; however, it does not expect any impact on its consolidated financial statements.

Merger (Tables) (Legacy TGC)

3 Months Ended

Mar. 31, 2015

Legacy TGC

Summary of assets acquired and liabilities assumed at merger date

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the Merger date (in thousands):

	Estimated Fair
TGC Industries, Inc.-Assets Acquired	Value

Stock Consideration	$	42,902
Interest Bearing Debt Assumed	12,048
Total Purchase Price Consideration	54,950
Debt-free Current Liabilities	12,647
Total Equity and Liabilities	$	67,597

Value of Current Assets
Current Assets excluding Cash and Equivalents	16,156
Cash and Equivalents	12,382
Total Current Assets	$	28,538

Identified Tangible Assets
Fair Value of Property, Plant and Equipment	28,812
Total Identified Tangible Assets	$	28,812

Identified Intagible Assets
Trademarks/Trade Names	1,063
Customer Relationships	1,799
Backlog	491
Total Identifiable Intangible Assets	$	3,353

Deferred Tax Asset	$	6,894

Total Indicated Value of Assets	$	67,597

Summary of pro forma information

	2015			2014
Pro forma total revenues	$	87,332,000		$	125,567,000
Pro forma net (loss) income	$	(10,569,000	)	$	8,958,000

Pro forma net income per share:
Basic	$	(0.49	)	$	0.42
Diluted	$	(0.49	)	$	0.42

DEBT (Tables)

3 Months Ended

Mar. 31, 2015

DEBT

Schedule of components of notes payable

	March 31, 2015	December 31, 2014
Notes payable to commercial banks
Aggregate principal amount outstanding	$16,715,000	$8,577,000
Interest rates	3.5%-4.6%	3.5%-4.6%
Monthly payments (excluding interest)	$128,363-290,938	$128,363-290,938

	March 31, 2015			December 31, 2014
Notes payable to finance company for insurance
Aggregate principal amount outstanding	$	80,000		—
Interest rates	4.09		%	—
Monthly payments (excluding interest)	$	14,674		—

Schedule of aggregate maturities of notes payable

The aggregate maturities of the notes payable at March 31, 2015 are as follows:

April 2015 — March 2016	$	9,887,000
April 2016 — March 2017	5,892,000
April 2017 — March 2018	1,016,000
	$	16,795,000

Schedule of future minimum lease payments

The aggregate maturities of obligations under capital leases at March 31, 2015 are as follows:

April 2015 – March 2016	$	1,363,000
April 2016 – March 2017	743,000
April 2017 – March 2018	270,000
	$	2,376,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(e),(f))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 55

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 835

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Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

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Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

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Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2015

COMMITMENTS AND CONTINGENCIES.

Schedule of company's contractual obligations

The following table summarizes payments due in specific periods related to the Company’s contractual obligations with initial terms exceeding one year as of March 31, 2015.

	Payments Due by Period (in 000’s)
	Total		Within 1 Year		2-3 Years		4-5 Years		After 5 Years
Operating lease obligations (office space)	$	3,739	$	1,191	$	1,971	$	481	$	96

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK (Tables)

3 Months Ended

Mar. 31, 2015

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK

Schedule of reconciliation of the basic and diluted loss per share attributable to common stock

	Three Months Ended March 31,
	2015			2014
	(in 000’s)
Net (loss) income	$	(6,592	)	$	1,652
Income allocable to unvested restricted stock	—			(21		)
Basic (loss) income attributable to common stock	$	(6,592	)	$	1,631
Reallocation of participating earnings	—			—
Diluted (loss) income attributable to common stock	$	(6,592	)	$	1,631
Weighted average common shares outstanding:
Basic	18,021,366			14,009,358
Dilutive common stock options and restricted stock units	—			66,630
Diluted	18,021,366			14,075,988
Basic (loss) income attributable to a share of common stock	$	(0.37	)	$	0.12
Diluted (loss) income attributable to a share of common stock	$	(0.37	)	$	0.12

Schedule of weighted average numbers of stock options and restricted stock units have been excluded from the calculation of diluted loss per share attributable to common stock

The following weighted average numbers of stock options and restricted stock units have been excluded from the calculation of diluted loss per share attributable to common stock, as their effect would be anti-dilutive for the three months ended March 31, 2014:

Stock options		92,315
Restricted stock units		15,832
Total		108,147

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2015
Significant Accounting Policies [Line Items]
Federal statutory effective income tax rate	35.00%
Minimum
Significant Accounting Policies [Line Items]
Useful lives	5 months
Maximum
Significant Accounting Policies [Line Items]
Useful lives	5 years

MERGER (Details) (USD $)	3 Months Ended			3 Months Ended		0 Months Ended		2 Months Ended			0 Months Ended			0 Months Ended					0 Months Ended
MERGER (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Mar. 31, 2015 Minimum	Mar. 31, 2015 Maximum	Feb. 11, 2015 Legacy TGC	Feb. 10, 2015 Legacy TGC	Mar. 31, 2015 Legacy TGC	Feb. 11, 2015 Legacy TGC	Feb. 10, 2015 Legacy TGC	Feb. 11, 2015 Legacy TGC Minimum	Feb. 11, 2015 Legacy TGC Maximum	Feb. 11, 2015 Legacy TGC Trademarks/Trade Names	Feb. 11, 2015 Legacy TGC Customer Relationships	Mar. 31, 2015 Legacy TGC Customer Relationships	Feb. 11, 2015 Legacy TGC Customer Relationships	Mar. 31, 2015 Legacy TGC Backlog	Feb. 11, 2015 Legacy TGC Backlog	Feb. 11, 2015 Legacy TGC Backlog Weighted Average [Member]
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01						$ 0.33	$ 0.01
Reverse stock split ratio							0.33
Common stock, shares outstanding	21,591,126		14,216,540
Split-effected Common Stock						1.760
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Closing price per share									$ 5.85
Stock Consideration						$ 42,902,000
Interest Bearing Debt Assumed						12,048,000
Total Purchase Price Consideration						54,950,000
Debt-free Current Liabilities									12,647,000
Total Equity and Liabilities									67,597,000
Current Assets excluding Cash and Equivalents									16,156,000
Cash and Equivalents									12,382,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Total									28,538,000
Fair Value of Property, Plant and Equipment									28,812,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets, Total									28,812,000
Identified Intangible Assets									3,353,000				1,063,000			1,799,000		491,000
Deferred Tax Asset									6,894,000
Total Indicated Value of Assets									67,597,000
Property, Plant and Equipment, Useful Life											2 years	15 years
Finite-Lived Intangible Asset, Useful Life				5 months	5 years									5 years					5 months
Finite-Lived Intangible Assets, Net	2,797,000														1,799,000		491,000
Finite-Lived Intangible Assets, Accumulated Amortization															147,000		76,000
Accrued Income Taxes									750,000
Pre-tax merger related costs						2,600,000
Severance and compensation arrangements						530,000
Business Acquisition, Pro Forma Information [Abstract]
Shares used in calculation of earnings per share	21,647,889	21,328,048
Pro forma total revenues	87,332,000	125,567,000						8,592,000
Pro forma net (loss) income	$ (10,569,000)	$ 8,958,000						$ 2,837,000
Pro forma net income per share:
Basic	$ (0.49)	$ 0.42
Diluted	$ (0.49)	$ 0.42

SHORT-TERM INVESTMENTS (Details) (USD $)	3 Months Ended
SHORT-TERM INVESTMENTS (Details) (USD $)	Mar. 31, 2015 item	Dec. 31, 2014 item
SHORT-TERM INVESTMENTS
Maturity Period of certificates of deposit, minimum	3 months	3 months
Maturity Period of certificates of deposit, maximum	1 year	1 year
Number of certificates of deposit limited to banking institution	1	1
Investments exceeding FDIC limit	$ 0	$ 0

DEBT (Details) (USD $)		12 Months Ended		0 Months Ended				3 Months Ended									12 Months Ended		3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended	3 Months Ended
DEBT (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014 Minimum	Dec. 31, 2014 Maximum	Jun. 02, 2015 Legacy Dawson Indebtedness	Jun. 02, 2015 Legacy Dawson Indebtedness	Mar. 31, 2015 Legacy Dawson Indebtedness item	Dec. 31, 2014 Legacy Dawson Indebtedness item	Mar. 31, 2015 Legacy Dawson Indebtedness LIBOR	Mar. 31, 2015 Legacy Dawson Indebtedness Prime rate	Mar. 31, 2015 Legacy Dawson Indebtedness Minimum	Mar. 31, 2015 Legacy Dawson Indebtedness Maximum	Mar. 31, 2015 Legacy TGC Indebtedness item	Mar. 31, 2015 Legacy TGC Indebtedness Minimum	Mar. 31, 2015 Legacy TGC Indebtedness Maximum	Mar. 31, 2015 Legacy TGC Indebtedness Maximum Prime rate	Mar. 31, 2015 Notes payable to commercial banks	Dec. 31, 2014 Notes payable to commercial banks	Mar. 31, 2015 Notes payable to commercial banks Term Note Equipment item	Mar. 31, 2015 Notes payable to commercial banks Minimum	Dec. 31, 2014 Notes payable to commercial banks Minimum	Mar. 31, 2015 Notes payable to commercial banks Maximum	Dec. 31, 2014 Notes payable to commercial banks Maximum	Mar. 31, 2015 Notes Payable to finance companies for insurance notes item
Debt Instruments
Number of notes payable						3	3					3						1					1
Aggregate principal amount	$ 16,795,000					$ 6,777,000	$ 8,577,000					$ 9,265,000				$ 16,715,000	$ 8,577,000	$ 673,000					$ 80,000
Borrowing, repaying and reborrowing capacity					20,000,000							5,000,000
Percentage of maximum borrowing capacity on eligible accounts receivable				80.00%								80.00%
Variable interest rate basis								30-day LIBOR	Prime Rate						Prime Rate
Spread on variable rate (as a percent)								2.25%	(0.75%)
Interest rate										4.00%		4.09%	5.00%
Average debt service coverage ratio										1.5			2.0
Debt to tangible net worth ratio											1.5			1.25
Ratio of current assets to current liabilities										1.5
Minimum tangible net worth												55,000,000
Capital lease obligations						1,474,000	1,650,000					902,000
Notes payable
Aggregate principal amount outstanding	16,795,000					6,777,000	8,577,000					9,265,000				16,715,000	8,577,000	673,000					80,000
Minimum interest rate (as a percent)																3.50%	3.50%
Maximum interest rate (as a percent)																4.60%	4.60%
Interest rate (as a percent)																		4.60%					4.09%
Monthly payments (excluding interest)																			128,363	128,363	290,938	290,938	14,674
Annual maturities of notes payable
April 2015 - March 2016	9,887,000
April 2016 - March 2017	5,892,000
April 2017 - March 2018	1,016,000
Total	16,795,000					6,777,000	8,577,000					9,265,000				16,715,000	8,577,000	673,000					80,000
Future minimum lease payments
April 2015 - March 2016	1,363,000
April 2016 - March 2017	743,000
April 2017 - March 2018	270,000
Total minimum lease payments required	$ 2,376,000
Interest rate (as a percent)		3.76%	8.17%

COMMITMENTS AND CONTINGENCIES (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015
COMMITMENTS AND CONTINGENCIES.
Operating lease obligations (office space), Total	$ 3,739
Operating lease obligations (office space), Within 1 Year	1,191
Operating lease obligations (office space), 2-3 Years	1,971
Operating lease obligations (office space), 4-5 Years	481
Operating lease obligations (office space), After 5 Years	$ 96

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK
Net (loss) income	$ (6,592,000)	$ 1,652,000
Income allocable to unvested restricted stock		(21,000)
Basic (loss) income attributable to common stock	(6,592,000)	1,631,000
Diluted (loss) income attributable to common stock	$ (6,592,000)	$ 1,631,000
Weighted average common shares outstanding:
Basic	18,021,366	14,009,358
Dilutive common stock options and restricted stock units		66,630
Diluted	18,021,366	14,075,988
Basic (loss) income attributable to a share of common stock	$ (0.37)	$ 0.12
Diluted (loss) income attributable to a share of common stock	$ (0.37)	$ 0.12
Number of antidilutive shares		0

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK (Details 2)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Anti-dilutive Securities Excluded from Calculation of Earnings Per Share [Line Items]
Weighted average number of securities excluded from calculation		108,147
Stock options
Anti-dilutive Securities Excluded from Calculation of Earnings Per Share [Line Items]
Weighted average number of securities excluded from calculation	0	92,315
Restricted stock units
Anti-dilutive Securities Excluded from Calculation of Earnings Per Share [Line Items]
Weighted average number of securities excluded from calculation	0	15,832

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References+ Details

QUARTERLY DIVIDEND (Details) (USD $)	0 Months Ended
QUARTERLY DIVIDEND (Details) (USD $)	Dec. 08, 2014	Aug. 29, 2014	May 30, 2014	Feb. 24, 2014	Feb. 03, 2014
QUARTERLY DIVIDEND
Dividend payable per share					$ 0.08
Quarterly dividend paid amount	$ 645,000	$ 645,000	$ 645,000	$ 645,000
Dividend paid amount on annualized basis	$ 2,580,000

COMMITMENTS AND CONTINGENCIES (Details 2) (USD $)	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Details 2) (USD $)	Mar. 31, 2015	Mar. 31, 2014
COMMITMENTS AND CONTINGENCIES.
Rental expense under operating leases with initial terms exceeding one year	$ 357,000	$ 242,000
Unused letters of credit, total	$ 233,000

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCK (Details 3) (Restricted stock)	Mar. 31, 2015	Mar. 31, 2014
Restricted stock
Net Income Per Common Share [Line Items]
Unvested restricted stock included in common stock outstanding	46,500	103,500