ION Geophysical Corporation

ION Geophysical — Q4 2016 Earnings Presentation

10 slides from ION Geophysical's earnings presentation, Feb 9, 2017

  1. Slide 1: ION Earnings Call – Q4 2016 Earnings Call Presentation

    ION Earnings Call – Q4 2016 Earnings Call Presentation February 9, 2017

  2. Slide 2: Corporate Participants and Contact Information

    Corporate Participants and Contact Information CONTACT INFORMATION If you have technical problems during the call, please contact DENNARD–LASCAR Associates at 713 529 6600. If you would like to view a replay of today's call, it will be available via webcast in the Investor Relations section of the C

  3. Slide 3: Forward-Looking Statements

    Forward-Looking Statements The information included herein contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may vary fundamentally from those described in these forward-looking s

  4. Slide 4: ION Q4-16 Financial Highlights

    Revenues $M 4 • Revenues of $35M • Down 54% compared to Q4-15 • Adjusted net loss of $(12)M versus $(6)M net loss in Q4-15 • Generated $16M of cash (excluding special items*) versus $(3)M in Q4-15 • Generated break-even cash flows for FY 2016 excluding patent litigation payment and cash used on our

  5. Slide 5: ION Q4-16 Highlights

    ION Q4-16 Highlights  Closed a significant amount of new deals related to our 3D multi-client Campeche reimaging program in partnership with Schlumberger  Increased backlog $15M to $34M at year-end, up from $19M at year-end 2015 5 Overall E&P Technology & Services Segment E&P Operations Optimizati

  6. Slide 6: ION Financial Overview

    (0.51) (0.99) $(1.00) $(0.75) $(0.50) $(0.25) $- Adjusted EPS Q4-15 6 ION Financial Overview Q4-16 Summary $77 $35 $- $15 $30 $45 $60 $75 $90 Q4-15 Q4-16 Ocean Bottom E&P Ops E&P T&S Revenue $M $18 $7 $- $5 $10 $15 $20 $25 Q4-15 Adjusted EBITDA $M Q4-16 • Revenues down 54% vs Q4-15 • E&P Technology

  7. Slide 7: ION Financial Overview Cash Flow

    ION Financial Overview Cash Flow $M 7 • Generated $16M of positive cash flows in Q4- 16, excluding patent litigation and repayments on revolver • FY-16 cash flow break- even, excluding patent litigation and bond exchange payments • Bond exchange reduced debt by 20% and extended maturities on $121M o

  8. Slide 8: Summary

    Summary  2016 was a tough year, but we’ve navigated it successfully – Proactive, disciplined, and creative balance sheet management – Rightsized our business to weather this severe industry downturn  Expect E&P market to start improving – Expect a modest increase in 2017 E&P spending – Expect grow

  9. Slide 9: Q&A

    9 Q&A

  10. Slide 10: Charged to innovate. Driven to solve.

    10M +>Charged to innovate. Driven to solve.

ION Geophysical — Q4 2016 Earnings Presentation on 6ix