ION Earnings Call Q4 2013 Earnings Call Presentation February 13, 2014
Corporate Participants and Contact Information BRIAN HANSON GREG HEINLEIN President and Senior Vice President and Chief Executive Officer Chief Financial Officer CONTACT INFORMATION If you have technical problems during the…
2013 Overview FY 13 Revenues ( Millions) Q4 a strong finish 600 500 Record quarterly revenues 400 Record operating income 300 200 Record data library sales 100 0 2012 2013 FY 13 Adjusted Diluted To a challenging year…
JV Update Increased ownership to 70% OceanGeo awarded project for Petrotrin Market for seabed seismic continues to develop Ocean bottom seismic strategic to ION JV enables ION to offer an integrated, full-scope solution…
Solutions Segment Multi-client 2013 Highlights FY revenues up 13% Y/Y Record data library sales in Q4 East & West Africa Gulf of Mexico India Brazil Total 76 million Broadened client base added 16 customers in 2013…
Solutions Segment Data Processing 2013 Highlights Record full-year revenues ION Data Processing Revenues ( Millions) 125 14 - 16 million impact due to contract execution 100 Continued traction for WiBandTM 75 broadband…
Software Segment 2013 Highlights Strong finish record Software segment revenues in Q4 4-year Orca contract renewal Record annual revenue for 4D optimization services Tripled services client base Received patent for…
Systems Segment 2013 Highlights Restructured for long-term profitability Introduced refurbishment programs and reduced cost structure within legacy towed streamer product line Shifted focus to seabed market Reduced annual…
Q4 13 Highlights Revenue M Adjusted Op. Margin % Record quarter for Revenue and 250 40% Operating Income: 200 30% 30% Revenue 219M 150 22% 20% 100 Operating Income 64M 10% 50 - 0% Q4 12 Q4 13 Q4 12 Q4 13 Total revenues up…
Financial Overview of Special Items Q4 13 Q4-13 Special Q4-13 As Reported Items As Adjusted 1. 0.7M Systems restructuring Net revenues 218,677 - 218,677 charges Cost of sales 115,835 (608) 115,227 Gross profit 102,842 608…
Solutions Segment Financial Overview Q4 13 Revenue by Type M Solutions segment revenues up 200 37% Y/Y 160 Record 76M data library sales 120 Across broad portfolio of library 80 Significant sales to new customers 40 75% from…
Software Segment Financial Overview Q4 13 Revenue by Type M Software segment revenues up 14 13% Y/Y 12 10 8 Record Q4 and 2nd best quarter 6 ever for revenues 4 2 - Q4 12 Q4 13 Increased Orca software and Software…
Systems Segment Financial Overview Q4 13 Revenue by Type M Systems segment revenues down 50 Down 2% 2% Y/Y 40 30 Declines in new streamer system 20 sales, mostly offset by increased 10 positioning and repair revenues, as -…
INOVA Geophysical Financial Overview Q4 13 Q3 Revenues M Q3 Adjusted Op. Margin % Q3 2013 In ION Q4 13 Results 50 10% Revenues of 41M, break-even 0% operating income, as adjusted 40 0% 30 - Vehicle sales of 20 Vibrator trucks…
Financial Overview Cash Flow SUMMARIZED CASH FLOW Thousands Q4 12 Q4 13 Cash from operations 69,523 91,610 Working capital (11,774) (22,538) Multi-client investment (40,027) (28,236) PP&E Capital Expenditures (3,084) (3,375)…
Financial Overview Balance Sheet as of Dec 31, 2013 Capital Employed M Capital Book Value M 600 700 600 500 500 400 239M 400 243M 300 300 200 200 100 186M 220M 100 148M 89M 97M 72M 0 0 Q3 13 Q4 13 Q3 13 Q4 13 Cash…
2014 Outlook Expect continued patience in E&P spending Robust data library, well positioned for upcoming licensing rounds Taking measured approach Buckled down our spending Completed restructuring Pragmatic Multi-client…
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