Revenue Update on Ion Geophysical Corp(NYSE:IO)

Ion Geophysical Corp(NYSE:IO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $36.15M. Analysts estimated a revenue of $39.00M. Earnings per share were $-1.85. Analysts had estimated an EPS of $-1.86.

Ion Geophysical Corp (IO) shares turned negative on Fridays trading session with the shares closing down -0.04 points or -0.75% at a volume of 45,704. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.48. The peak price level was also seen at $5.48 while the days lowest was $5.2. Finally the shares closed at $5.28. The 52-week high of the shares is $12.149939 while the 52-week low is $2.55. According to the latest information available, the market cap of the company is $62 M.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, James M Jr Lapeyre (director) purchased 1,900 shares at $5.85 per share price.Also, On Jun 2, 2016, David H Barr (director) purchased 10,000 shares at $6.95 per share price.On Mar 17, 2016, Christopher Theron Usher (COO) purchased 1,300 shares at $6.89 per share price, according to the Form-4 filing with the securities and exchange commission.

ION Geophysical Corporation (ION) is a global 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). Its Solutions segment offers GeoVentures service and GX Technology. The Systems segment is engaged in the manufacture of marine acquisition systems consisting of towed marine streamers and shipboard electronics that collect seismic data in water depths of over 30 meters. The Software segment provides command and control software systems related software and services for towed marine streamer and seabed operations as well as survey design. Through the addition of OceanGeo ION offers an integrated OBS solution that includes survey design planning and optimization.

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