IO
S&P Analyst Research Notes and other Company News
January 8, 2009
DOWN 1.41 to 2.76... IO forecasts Q4 '08 revenues of $145M-$165M, compared
with $209.4M for Q4 '07, and says it expects its Q4 '08 earnings to include
one-time and restructuring charges. As a result of this guidance, now sees '08
consolidated revenues of $685M-$705M.
December 8, 2008
ION Geophysical Corporation announced the appointment of G. Thomas Marsh
and Nick G. Vlahakis to its Board of Directors. Marsh, age 65, retired in 2006 as
Executive Vice President, Lockheed Martin Space Systems Company. He most
recently in the position of President, Manned Space Systems. Vlahakis, age 60,
retired in 2005 as Executive Vice President and Chief Operating Officer with
Alliant Techsystems Inc. (ATK).
December 5, 2008
ION Geophysical Corporation announced that the ION Board of Directors has
appointed Jim Hollis as President and Chief Operating Officer. In his new position,
Hollis will oversee all operations of the Company, including all business units,
sales and manufacturing. Hollis will report to Bob Peebler, who will continue as
the Company's Chief Executive Officer. In his previous role as Executive Vice
President and Chief Operating Officer of ION Solutions, Hollis, age 47, was
responsible for four of ION's business units--Full-wave Land (FireFly(R)), Seabed,
GXT Imaging, and Integrated Seismic Solutions.
November 5, 2008
ION Geophysical Corporation reported earnings results for the third quarter and
nine months ended September 30, 2008. For the quarter, the company reported
net income of $24.9 million, or $0.25 per diluted share, on revenues of $218.5
million compared to net income of $12.6 million, or $0.14 per diluted share, on
revenues of $173.6 million for the same period a year ago. Total revenues in the
third quarter increased 26% to $218.5 million compared to $173.6 million a year
ago. The increased revenues were the results of strong sales in all of the
Company's segments, including Marine Imaging Systems, Land Imaging Systems
and ION Solutions. Adjusted EBITDA for the third quarter doubled to $69.6 million
compared to $34.3 million in the third quarter of 2007. For the first nine months of
2008 consolidated revenue increased 7% to $539.4 million compared to $503.8
million for the same period in 2007. For the first nine months of 2008, the Company
reported net income of $48.0 million, or $0.49 per diluted share, compared to net
income of $22.8 million, or $0.26 per diluted share, in 2007. Adjusted EBITDA for
the period was $145.4 million compared to $75.9 million in 2007. The company
provided earnings guidance for the year 2008. The company expect 2008
consolidated revenues to range between $780 and $830 million and earnings to be
between $0.70 and $0.80 per diluted share.
August 19, 2008
ION Geophysical Corporation announced that Sam K. Smith will retire from the
Board of Directors effective August 18, 2008. Mr. Smith joined the ION Board of
Directors in 1999, served as the company's Chief Executive Officer from 1999 until
2000, and has served on the Compensation Committee of the Board since 2005.
The Board of Directors intends to appoint a new Board member to replace Mr.
Smith over the next few months.
August 7, 2008
ION Geophysical Corporation reported earnings results for the second quarter
and six months ended June 30, 2008. For the quarter, the company reported net
income applicable to common shares was $15.44 million, or $0.16 per diluted
share, on revenues of $180.66 million compared to net income applicable to
common shares was $7.07 million, or $0.08 per diluted share, on revenues of
$165.15 million for the same period a year ago. Net income was $16.3 million
against $7.7 million for the same period a year ago. For the six months, the
company reported net income applicable to common shares was $23.07 million,
or $0.24 per diluted share, on revenues of $320.8 million compared to net income
applicable to common shares of $10.15 million, or $0.12 per diluted share, on
revenues of $330.2 million for the same period a year ago. Net income was $25
million against $11.3 million for the same period a year ago. The company
reiterating the earnings guidance for the full year of 2008. The company expects
2008 consolidated revenues to range between $780 and $830 million and earnings
to be between $0.70 and $0.85 per diluted share.
May 7, 2008
ION Geophysical Corporation reported earnings results for the first quarter ended
March 31, 2008. The company reported first quarter 2008 net income of $7.6
million, or $0.08 per diluted share, on revenues of $140.2 million compared to net
income of $3.1 million, or $0.04 per diluted share, on revenues of $165.0 million for
the same period a year ago. Revenues for the first quarter of 2007 included the
first system sale of FireFly(R) for $20.8 million and the balance of the third
VectorSeis(R) Ocean (VSO) system sale to Reservoir Exploration Technology,
ASA (RXT) for $15.0 million. Excluding the $36 million impact of these two large
sales, the first quarter 2008 revenues increased 9% to $140.2 million compared to
$129.2 million for the first quarter of 2007. The company reiterated the earnings
guidance for the year 2008. The company expects 2008 consolidated revenues to
range between $780 and $830 million and earnings to be between $0.70 and $0.85
per diluted share.
February 21, 2008
Posts $0.18 vs. $0.15 Q4 EPS (GAAP) on 26% higher revenue. Backs its previously
issued '08 guidance of $0.70-$0.85 EPS on $780M-$830M revenue.
Quantitative Stock Report
ION Geophysical Jan 17,2009
NYSE SYMBOL:IO
S&P Quality Ranking: B- Standard & Poor's Fair Value Rank : NR
Source: S
AI
Market Data 
Markets 
