ION Geophysical (IO) Tops Q3 EPS Views

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Go back to ION Geophysical (IO) Tops Q3 EPS Views

ION reports third quarter 2016 results

November 2, 2016 6:23 PM EDT

HOUSTON, Nov. 2, 2016 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today reported third quarter 2016 net income of $1.7 million, or $0.14 per diluted share, on revenues of $78.6 million, compared to a net loss of $20.4 million, or $(1.86) per share, on revenues of $66.7 million in third quarter 2015.  In comparison, excluding special items, the Company's third quarter 2015 adjusted net loss was $16.9 million, or $(1.54) per share.  A reconciliation of special items to the financial results can be found in the financial tables of this press release.

Adjusted EBITDA for third quarter 2016 more than tripled to $24.4 million,... More