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Last $0.79 USD
Change Today +0.0119 / 1.53%
Volume 765.6K
IO On Other Exchanges
New York
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

ion geophysical corp (IO) Snapshot

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52 Week High
08/4/14 - $3.77
52 Week Low
07/28/15 - $0.75
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Current Stock Chart for ION GEOPHYSICAL CORP (IO)

ion geophysical corp (IO) Related Businessweek News

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ion geophysical corp (IO) Details

ION Geophysical Corporation provides geoscience technology, services, and solutions for the oil and gas industry worldwide. It operates through four segments: Solutions, Systems, Software, and Ocean Bottom Services. The Solutions segment offers seismic data services, including survey planning and design, data acquisition, data processing and interpretation, subsurface imaging, and reservoir characterization services. This segment also provides data processing and imaging services to help its exploration and production customers for reducing exploration and production risk, evaluating and developing reservoirs, and enhancing production. The Software segment provides command and control software systems, related software, and services for towed marine streamer and seabed operations, as well as for survey design. The Systems segment manufactures re-deployable ocean bottom cable seismic data acquisition systems and shipboard recorders; marine towed streamer positioning and control systems; and analog geophone sensors. The Ocean Bottom Services segment offers survey design, planning, and optimization services to maximize seismic image quality, operational efficiency, and safety; superior imaging services; and data processing, interpretation, and reservoir services The company markets and sells its services and products through direct sales force and third-party sales representatives. The company was formerly known as Input/Output, Inc. and changed its name to ION Geophysical Corporation in 2007. ION Geophysical Corporation was founded in 1968 and is headquartered in Houston, Texas.

879 Employees
Last Reported Date: 02/17/15
Founded in 1968

ion geophysical corp (IO) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $550.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $316.6K
Chief Operating Officer of Commercialization ...
Total Annual Compensation: $372.3K
Chief Innovation Officer of Innovation Divisi...
Total Annual Compensation: $364.0K
Executive Vice President of Ocean Bottom Serv...
Total Annual Compensation: $330.0K
Compensation as of Fiscal Year 2014.

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.


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