ION Geophysical (IO) Reports Q1 Loss of $3.30 per Share

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Go back to ION Geophysical (IO) Reports Q1 Loss of $3.30 per Share

ION reports first quarter 2016 results

May 4, 2016 5:49 PM EDT

HOUSTON, May 4, 2016 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today reported a first quarter 2016 net loss of $35.0 million, or $(3.30) per share, on revenues of $22.7 million, compared to a net loss of $55.3 million, or $(5.04) per share, on revenues of $40.6 million in first quarter 2015.  Excluding special items reported one year ago, the Company's first quarter 2015 adjusted net loss was $51.5 million, or $(4.70) per share.

At March 31, 2016, the Company's total liquidity was $102.5 million, consisting of cash and cash equivalents of $76.7 million and $25.8 million available on the Company's revolving credit facility.  While the Company had no... More