ION Geophysical Corporation (NYSE:IO) Files An 8-K Other Events
Item 8.01. Other Events
Report on Form 8-K to recast certain previously reported amounts
to reflect a change in segment reporting with respect to
financial information contained in the Companys Annual Report on
Form 10-K for the year ended December 31, 2015 filed on February
11, 2016 (the 2015 Form 10-K). The information included in this
Current Report on Form 8-K does not in any way restate or revise
the financial position, results of operations, cash flow or
stockholders equity in any previously reported Consolidated
Balance Sheet, Consolidated Statements of Operations,
Consolidated Statement of Comprehensive Loss, Consolidated
Statements of Stockholders Equity or Consolidated Statements of
Cash Flows for the Company. Neither this Form 8-K nor the Exhibit
hereto reflect any events occurring after February 11, 2016 or
modify or update the disclosures in the 2015 Form 10-K that may
be affected by subsequent events except for the change in segment
reporting described below. Accordingly, this Form 8-K should be
read in conjunction with the 2015 Form 10-K and the Companys
subsequent filings made with the Securities and Exchange
Commission.
four business segments into three. Beginning in the third quarter
of 2016, the Company changed its reportable segments as described
below:
continues to be comprised of the groups that support the Companys
New Venture and Data Library (together multi-client) revenues and
Imaging Services group.
referred to as Systems, and Optimization Software Services,
formerly referred to as Software. The manufacturing, engineering,
research and development of ocean bottom systems is no longer a
part of Devices, and are now within Ocean Bottom Services as
noted below.
data acquisition services company along with the manufacturing,
engineering, research and development of ocean bottom systems.
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Exhibit Number
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Description
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23.1
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Consent of Grant Thornton LLP.
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23.2
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Consent of Ernst Young LLP.
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99.1
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Updated disclosures relating to the business,
selected financial data, managements discussion and analysis of financial condition and results of operations and financial statements and supplementary data of the Company as described above. |
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The following materials are formatted in Extensible
Business Reporting Language (XBRL): (i) Consolidated Balance Sheets at December 31, 2015 and 2014, (ii) Consolidated Statements of Operations for the years ended December 31, 2015, 2014 and 2013, (iii) Comprehensive Income (Loss) for the years ended December 31, 2015, 2014 and 2013, (iv) Consolidated Statements of Cash Flows for the years ended December 31, 2015, 2014 and 2013, (v) Consolidated Statements of Stockholders Equity for the years ended December 31, 2015, 2014 and 2013, (vi) Footnotes to Consolidated Financial Statements and (vii) Schedule II Valuation and Qualifying Accounts. |
About ION Geophysical Corporation (NYSE:IO)
ION Geophysical Corporation is a technology focused company that provides geophysical technology, services and solutions to the global oil and gas industry. The Company offers services and products through four segments: Solutions, Systems, Software and Ocean Bottom Services (OBS). The Company’s Solutions segment provides over two service activities: Ventures group and Imaging Services group. The Company’s Systems segment’s products include Marine Acquisition Systems, Marine Positioning Systems and Geophones. The Company’s Software segment provides command and control software systems, related software and services for towed marine streamer, and seabed operations, as well as survey design. The Company, through OceanGeo B.V., offers an integrated OBS solution, which includes expert survey design, planning and optimization, superior data captured using multicomponent acquisition systems available to OceanGeo; data acquisition, and data processing, interpretation and reservoir services. ION Geophysical Corporation (NYSE:IO) Recent Trading Information
ION Geophysical Corporation (NYSE:IO) closed its last trading session down -0.15 at 7.30 with 56,969 shares trading hands.
