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Q3 2011 EARNINGS CALL – Ion Geophysical Corp

Ion Geophysical Corp · Nov 3, 2011 · 18 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 1
    ION Earnings Call Q3 2011 Earnings Call Presentation November 3, 2011
  2. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 2
    Earnings Call Introduction Corporate Participants & Contact Information BOB PEEBLER BRIAN HANSON ION Geophysical Corporation ION Geophysical Corporation CEO President, COO & CFO CONTACT INFORMATION If you have technical…
  3. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 3
    Sequential Improvement & Expected Strong Fourth Quarter Q3 2011 4
  4. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 4
    Quarterly Highlights Q3 2011 Sequential improvement over first half of 2011. Marine delivers strong performance. Positioning and software (Orca) product lines. Strong performance of multi-client business. Additional U.S. shale…
  5. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 5
    Financial Overview Q3 2011 ION delivers 0.06 of diluted EPS for the third quarter. Revenues of 116 million for the third quarter with year-to-date revenues of 295 million compared to 286 million for the prior period. Excluding Legacy…
  6. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 6
    Financial Overview Trailing Twelve Month (TTM) Revenue Comparison Including Legacy Land Systems Excluding Legacy Land Systems 500 500 400 400 300 300 Millions Millions 200 200 100 100 - - 2010 2011 2010…
  7. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 7
    Solutions Segment Q3 2011 Financial Overview Revenue by Type Multi-client CapEx Investment 190 140 180 120 170 100 160 Millions 150 80 140 60 130 120 40 110 20 100 - Millions 90 80 2009 2010 2011 70 Actual…
  8. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 8
    ION Capital Expenditures Relative to Revenue Average Per Year 06 - YTD 11 NV Revenue vs MCDL Investment 500 450 400 350 300 Millions 250 200 150 100 50 0 FY '06 FY '07 FY '08 FY'09 FY '10 YTD '11 Combined New…
  9. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 9
    ION Capital Expenditures Relative to Revenue Average Per Quarter 2006-2010 Qtr Pt Avg. NV Revenue vs Avg. MCDL Investment 90 80 70 60 Millions 50 40 30 20 10 0 AVG Q1 AVG Q2 AVG Q3 AVG Q4 AVG FY New Venture Revenue…
  10. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 10
    Software Segment Q3 2011 Financial Overview Revenue by Type (GBP) % of Seismic Vessels with Orca 19 18 17 16 15 14 41% 13 12 59% 11 10 9 Millions 8 7 6 Orca-Permanent Other 5 4 Orca Vessel Conversion 3 2 1 -…
  11. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 11
    Systems Segment Q3 2011 Financial Overview Revenue by Type 100 90 80 70 Millions 60 50 40 30 20 10 - YTD 2010 YTD 2011 Towed Streamer Equipment OBC Other 12
  12. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 12
    Financial Overview Balance Sheet as of September 30, 2011 Capital Employed Financing 600 600 500 500 400 400 Millions Millions 300 147M 300 200 200 100 100 72M 99M 0 0 Cash & ST Investments Remaining Working…
  13. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 13
    Financial Overview Liquidity & LT Debt as of September 30, 2011 Liquidity of 172M LT Debt of 99M 3% 58% 42% 97% Undrawn Revolver Cash & ST Investments Term Loan Facility & Equipment Leases Revolver and Term A both…
  14. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 14
    Financial Overview Cash Flow Nine Months Ended September 30, SUMMARIZED CASH FLOW 2011 2010 Cash from operations 84,879 87,081 Working capital 1,242 (29,848) Multi-client investment (91,594) (58,866) PP&E Capital…
  15. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 15
    INOVA Geophysical Q3 2011 Financial Overview Q310 vs Q311 Forecasted Revenues 100 Estimated Q3 revenues of 25 to 29 million with operating loss of 8 to 10 million and net loss of 90 10 to 12 million* 80 YTD revenue increased…
  16. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 16
    INOVA Geophysical General Market Observations/Operational Highlights Lower-than-normal vibrator sales in Q3 due to delayed project awards in the Middle East, but offset by FireFly sales and rentals. Continued BGP purchases…
  17. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 17
    Financial Overview Summary Continue to expect full-year results are expected to be significantly back-end loaded based on the following assumptions: Record investment in multi-client libraries; Revenue recognition of the BGP…
  18. Q3 2011 EARNINGS CALL – Ion Geophysical Corp – slide 18
    19

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