ION Geophysical Corporation

ION Geophysical — Q1 2017 Earnings Presentation

11 slides from ION Geophysical's earnings presentation, May 4, 2017

  1. Slide 1: ION Earnings Call – Q1 2017 Earnings Call Presentation

    ION Earnings Call – Q1 2017 Earnings Call Presentation May 4, 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 Q1-17 Financial Highlights

    Revenues $M 4 • Revenues of $33M • Up 44% compared to Q1-16 • Driven in part by continued strong sales of Campeche program and an increase in data library sales • Nearing completion on last major financial challenge, patent litigation with WesternGeco • Recent ruling indicated that we will be held t

  5. Slide 5: ION Q1-17 Highlights

    ION Q1-17 Highlights 5 E&P Technology & Services E&P Operations Optimization  Completed 39 deployments total of Marlin, adding significant value for clients  Received Scottish Enterprise funding for Marlin software development  Renewed long-term command and control contract with major customer Oc

  6. Slide 6: R&D Programs Positioning ION for Upturn

    R&D Programs Positioning ION for Upturn  Maintained R&D programs through the downturn, which are key to positioning ION to take advantage of the impending market upturn  Introducing a new nodal OBS solution, 4Sea®, providing a step change in image quality and efficiency, driving down the cost of a

  7. Slide 7: ION Financial Overview

    (3.30) (1.55) $(4.00) $(3.00) $(2.00) $(1.00) $- Adjusted EPS Q1-16 7 ION Financial Overview Q1-17 Summary $- $10 $20 $30 $40 Q1-16 Q1-17 23 33 44% OBS Services E&P Ops E&P T&S Revenue $M • Revenues up 44% vs Q1-16 • E&P Technology & Services up 79% • E&P Operations Optimization down 4% • No revenue

  8. Slide 8: ION Financial Overview Cash Flow

    ION Financial Overview Cash Flow $M 8 • Net cash flows from operations of $2.0M in Q1-17 vs $2.5M in prior year • Ability to generate cash from operations in Q1-17 demonstrates rightsizing of business • Total net cash flows of $(3.0)M in Q1-17 vs $(8.2)M in Q1-16 • Cash balance of $40M, excluding bo

  9. Slide 9: Summary

    Summary  Expect E&P market to start improving – Expect a modest increase in 2017 E&P spending – Expect growth in seismic spending to lag behind other oil and gas segments – OBS tender activity has picked up and we are seeing renewed interest in underwriting new venture programs for the first time i

  10. Slide 10: Q&A

    10 Q&A

  11. Slide 11: Charged to innovate. Driven to solve.

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

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