ION reports fourth quarter and year end 2019 results
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ION Geophysical (IO) Misses Q4 EPS by $1.17, Revenues Miss
February 5, 2020 4:55 PM ESTION Geophysical (NYSE: IO) reported Q4 EPS of ($0.40), $1.17 worse than the analyst estimate of $0.77. Revenue for the quarter came in at $42.7 million versus the consensus estimate of $71.43 million.
Chris Usher, the Company's President and Chief Executive Officer, commented, "Our fourth quarter financial results were quite disappointing, primarily because we were not able to launch multiple new acquisition multi-client programs and close several data library deals in our pipeline. As a result, our full year results were down slightly, rather than the upward trajectory we had been building towards for 2019, with timing of fourth quarter... More
