ION Geophysical Corporation (NYSE:IO) Files An 8-K Results of Operations and Financial ConditionItem 2.02.Results of Operations and Financial Condition
On February7, 2018, ION Geophysical Corporation (the “Company”) issued a press release containing information regarding the Company’s results of operations for the quarter and year ended December31, 2017. A copy of the press release is furnished as Exhibit 99.1 hereto.
Item 7.01.Regulation FD Disclosure
In conjunction with the above press release, the Company has scheduled a conference call, which will be broadcast live over the Internet, for Thursday, February8, at 10:00 a.m. Eastern Time (9:00 a.m. Central). The webcast of the conference call will be accompanied by a slide presentation, which can be accessed from the ION home page in the Investor Relations section of the ION website by 9:00 AM eastern time.
The information contained in Items 2.02 and 7.01 and the exhibits of this report (i) is not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and (ii)shall not be incorporated by reference into any previous or future filings made by or to be made by the Company with the Securities and Exchange Commission (“SEC”) under the Securities Act of 1933, as amended, or the Exchange Act.
The information included herein contains certain 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. These forward-looking statements may include statements regarding future sales, earnings and market growth, timing of sales, future liquidity and cash levels, future estimated revenues and earnings, sales expected to result from backlog, expected outcome of litigation andother statements that are not of historical fact. Actual results may vary materially from those described in these forward-looking statements. All forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties. These risks and uncertainties include risks associated with pending and future litigation, including the risk that any additional damages or adverse rulings in the WesternGeco litigation could have a material adverse effect on the Company’s financial results and liquidity; the timing and development of the Company’s products and services and market acceptance of the Company’s new and revised product offerings; the Company’s level and terms of indebtedness; competitors’ product offerings and pricing pressures resulting therefrom; the relatively small number of customersthat the Company currently relies upon; the fact that a significant portion ofthe Company’s revenues isderived from foreign sales; that sources of capital may not prove adequate; the Company’s inability to produce products to preserve and increase market share; collection of receivables; and technological and marketplace changes affecting the Company’s product lines. Additional risk factors, which could affect actual results, are disclosed by the Company from time to time in its filings with the Securities and Exchange Commission (“SEC”), including its Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q.
Item 9.01.Financial Statements and Exhibits
(a)Financial statements of businesses acquired.
Not applicable.
(b)Pro forma financial information.
Not applicable.
(c)Shell company transactions.
Not applicable.
(d)Exhibits.
Exhibit NumberDescription
99.1Press Release dated February7, 2018.
ION GEOPHYSICAL CORP ExhibitEX-99.1 2 ex991earningsrelease4q-17.htm EXHIBIT 99.1 Exhibit ION reports fourth quarter and year end 2017 resultsStrong fourth quarter revenue growth of 64% compared to one year ago,…To view the full exhibit click here
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.