ION Geophysical (IO) Misses Q1 EPS by 29c

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Go back to ION Geophysical (IO) Misses Q1 EPS by 29c

ION reports first quarter 2015 results

May 6, 2015 5:08 PM EDT

HOUSTON, May 6, 2015 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today reported a first quarter 2015 net loss of $55.3 million, or $(0.34) per share, on revenues of $40.6 million, compared to an adjusted net income of $6.4 million, or $0.04 per diluted share, on revenues of $144.7 million in first quarter 2014.  During the first quarter 2015, the Company initiated a further restructuring program, recording charges of approximately $4 million.  A reconciliation of restructuring and special items to the first quarter 2015 and 2014 can be found in the financial tables of this press release.

At March 31, 2015, the Company's cash and cash equivalents were... More