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SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp

Ion Geophysical Corp · Mar 19, 2013 · 23 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. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 1
    ION Geophysical Corporation Greg Heinlein Senior Vice President and Chief Financial Officer Sidoti & Company Seventeenth Annual New York Conference March 19, 2013
  2. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 2
    Todays Discussion Overview of ION Business Update Financial Results 3
  3. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 3
    ION at a Glance Technology company, driven to develop and apply proven, innovative technologies and services to help our clients find and produce hydrocarbons as safely and efficiently as possible Founded in 1968 as Input/Output…
  4. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 4
    IONs Global Footprint Headquarters Data Processing Centers Learn more about ION locations here Sales and Service Centers ResSCAN Programs BasinSPAN Programs 5
  5. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 5
    Seismic vs. E&P vs. IONs Served Market A 20-25 Billion Annual (Revenue) Industry, A 6-7 Billion Annual Market 640 B 20-25 B Exploration 16% 12% Data Library Sales…
  6. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 6
    Todays Discussion Overview of ION Business Update Financial Results 7
  7. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 7
    Global Outlook E&P Spending and Implications for Seismic E&P Industry Dynamics Europe, Africa, Middle East E&P International capex markets leading and E&P capex seismic growth spend Strong ION expected revenues to grow…
  8. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 8
    ION 2012 Global GeoVentures Revenues GeoVentures 2012 record revenues of 235M, up 35% ResSCAN Programs 88M in Data Library sales in 2012 BasinSPAN Marine Programs E&P capex up 10% in 2012; predicted to increase an additional…
  9. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 9
    Data Processing 116M in 2012 revenues Record year, up 30% over 2011 Millions Seventh sequential quarterly improvement Continued focus on large, long-term contracts WiBandTM technology continues to gain momentum 10
  10. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 10
    Marine Seismic Ocean Bottom Seismic showing strong growth and gaining market share Millions Continued positive customer feedback regarding VSO Q412 revenue up 75% versus Q3 Source: ODS Petrodata, Company Analysis Solid…
  11. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 11
    OBS Key Growth Drivers New systems have larger footprints, increasing efficiency Closing cost gap with Towed Streamer Calypso is 2x footprint & 33% more efficient Moving into deeper water Deep water wells 200M+ support investment…
  12. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 12
    Summary Great quarter and year E&P Capex and Seismic Spend Strength in international markets Growth led by GeoVentures and GXT Data Processing Seismic market is healthy Sources: Company data, Barclays Research, Spears ION…
  13. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 13
    Todays Discussion Overview of ION Business Update Financial Results 14
  14. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 14
    ION 2012 Highlights Continued Strong Growth Revenues ( Millions) 45% Gross Profit Revenue up 16% 600 Up 3 pts Up 16% 40% 500 35% 30% EPS of 0.39, up 400 25% 160% 300 20% 200 15% 10% 33% EPS in 1H vs. 100 5% 0% 13% in…
  15. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 15
    Revenue Distribution by Segment YTD 2012 526.3 Million YOY Growth 16% Software YOY Growth 13% New Venture 43.1M YOY Growth 50% Data 147.3M Processing YOY Growth 30% 115.8M Solutions YOY Growth 33% 351.3M Systems Data…
  16. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 16
    Financial Overview Revenues by Segment FY 2012 600 Revenue Solutions revenues of 351 million, 500 up 33% Y/Y Millions 400 300 Software revenues of 43 million, 200 up 11% in local currency Y/Y 100 - 2011 2012 Systems…
  17. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 17
    Solutions Segment Financial Overview FY 2012 Revenue by Type DP & NV Revenue vs. Backlog 400 200 180 160 350 140 Millions 120 Up 15% 100 300 80 60 250 40 20 0 200 Up 50% Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111…
  18. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 18
    Software Segment Financial Overview FY 2012 Revenue by Type % of Seismic Vessels with Orca 30 25 20 58% 15 42% Millions 10 5 - Orca-Permanent 2011 2012 Spectra/Pre-Orca ION versions Software Systems Services…
  19. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 19
    Systems Segment Financial Overview FY 2012 Revenue by Type 175 150 125 100 Millions 75 50 25 - 2011 2012 Towed Streamer Equipment OBC Other Softness in Towed Streamer product sales 20
  20. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 20
    INOVA Geophysical Financial Overview Revenues Q3 2012 30 25 Revenues of 25.1 million with an operating loss of (8.1) million Millions 20 15 Delivered 18,000 channels of G3i 10 A few additional vibrator sales 5 - Q3 11…
  21. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 21
    Financial Overview Cash Flow Full Year SUMMARIZED CASH FLOW 2012 2011 Cash from operations 184,320 134,893 Working capital (15,015) (4,909) Multi-client investment (145,627) (143,782) PP&E Capital Expenditures (16,650)…
  22. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 22
    Financial Overview Balance Sheet as of December 31, 2012 Capital Employed* Capital Book Value 2011 2012 2011 2012 700 600 600 500 500 Millions Millions 400 400 230M 176M 300 300 200 200 100 0 62M 61M 100 105M…
  23. SIDOTI & COMPANY 17TH ANNUAL NEW YORK CONFERENCE – Ion Geophysical Corp – slide 23
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