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Last $0.80 USD
Change Today +0.0062 / 0.78%
Volume 413.3K
IO On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

ion geophysical corp (IO) Key Developments

ION Geophysical Corporation Launches First Phase of MexicoSPAN

ION Geophysical Corporation introduced the first phase of MexicoSPAN covering more than 22,000 km of deep-imaged 2D seismic data. MexicoSPAN will offer the industry's only complete, basin-wide regional view of the Gulf of Mexico, along with ION's YucatanSPAN, GulfSPAN and FloridaSPAN programs. MexicoSPAN is designed to provide regional coverage of both the prolific exploration and production areas of the western Gulf of Mexico and the exploration frontier margins of the eastern Gulf and northern Yucatan.

ION Geophysical Corporation Announces Ruling in Appeal on Westerngeco L.L.C Patent Infringement Lawsuit

ION Geophysical Corporation announced that on July 2, 2015, a panel of justices on the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. reversed in part and affirmed in part the patent infringement judgment against ION in favor of WesternGeco granted by the United States District Court for the Southern District of Texas in May 2014. WesternGeco filed the lawsuit, styled WesternGeco L.L.C. v. ION Geophysical Corporation, in June 2009, alleging that ION's DigiFIN™ lateral streamer control system infringed numerous method and apparatus claims contained in patents held by WesternGeco U.S. for marine seismic streamer steering devices. In May 2014, the United States District Court entered final judgment in favor of WesternGeco and ordered ION to pay $123.8 million in damages, prejudgment interest and costs to WesternGeco, plus post-judgment interest. ION appealed the judgment to the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. On July 2, 2015, the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. reversed in part the judgment, holding the district court erred by including lost profits in the final judgment. Lost profits were $93.4 million and prejudgment interest was approximately $10.9 million of the $123.8 million final judgment. Pre-judgment interest on the lost profits portion of the final judgment will be treated in the same way as the lost profits. Post-judgment interest will likewise be treated in the same fashion. The opinion is not a final judgment of the Court of Appeals until the mandate issues and could be subject to further proceedings.

ION Geophysical Corporation Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015

ION Geophysical Corporation reported consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total net revenues of $40,578,000 compared with $144,698,000 for the same period last year. Loss from operations was $46,689,000 compared with income from operations $19,671,000 for the same period last year. Loss before income tax was $54,533,000 compared with income before income tax of $81,712,000 for the same period last year. Net loss attributable to ION was $54,533,000 or $0.34 diluted per share compared with net income attributable to ION of $75,979,000 $0.46 diluted per share for the same period last year. Net cash used in operating activities was $6,706,000 compared with net cash provided by operating activities of $62,682,000 for the same period last year. Purchase of property, plant, equipment and seismic rental assets was $11,994,000 compared with $1,997,000 for the same period last year. First quarter 2015 Adjusted LBITDA was $38.1 million, compared to adjusted EBITDA of $42.9 million in the first three months of 2014. Net debt was $45 million at March 31, 2015.

ION Geophysical Corporation to Report Q1, 2015 Results on May 06, 2015

ION Geophysical Corporation announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on May 06, 2015

ION Geophysical Corporation, Q1 2015 Earnings Call, May 07, 2015

ION Geophysical Corporation, Q1 2015 Earnings Call, May 07, 2015

 

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