ION Earnings Call Q1 2011 Earnings Call Presentation May 5, 2011
Earnings Call Introduction Corporate Participants & Contact Information BOB PEEBLER BRIAN HANSON ION Geophysical Corporation ION Geophysical Corporation CEO CFO CONTACT INFORMATION INFOR If you have technic technical…
Great Start to the Year Q1 2011 [4]
Quarterly Highlights Q1 2011 Consolidated results exceed internal expectations. Strong performances by marine and multi -client businesses. Slow start by data processing and sensor geophone businesses. Expect strong 2011…
Financial Overview Q1 2011 Solid first quarter performance delivering break-even results. Revenues of 91 million for the first quarter compared to 89 million for the prior period. Excluding Legacy Land Systems (INOVA), revenues…
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 2011…
Solutions Segment Q1 2011 Financial Overview Revenue by Type Multi-client CapEx Investment 70 140 120 100 Millions 60 80 50 60 40 40 20 Millions - 30 2009 2010 2011 Actual Investment Minimum Forecasted 20…
Software Segment Q1 2011 Financial Overview Revenue by Type (GBP) % of Seismic Vessels with Orca 6 5 37% 4 63% Millions 3 2 Orca-Permanent Other Orca Vessel Conversion 1 - YTD 2010 YTD 2011 2010 2011 44* 44…
Systems Segment Q1 2011 Financial Overview Revenue by Type 30 25 20 Millions 15 10 5 - YTD 2010 YTD 2011 Towed Streamer Equipment OBC Other [ 10 ]
Financial Overview Balance Sheet as of March 31, 2011 Capital Employed Financing 600 600 500 500 400 400 Millions Millions 300 101M 300 200 200 100 100 138M 101M 0 0 Cash & ST Investments Remaining Working…
Financial Overview Liquidity & LT Debt as of March 31, 2011 Liquidity of 238M LT Debt of 101M 3% 42% 58% 97% Undrawn Revolver Cash & ST Investments Term Loan Facility & Equipment Leases Revolver and Term A both mature…
Financial Overview Cash Flow Three Months Ended March 31, SUMMARIZED CASH FLOW 2011 2010 Cash from operations 28,964 5,232 Working capital 23,162 20,565 Multi-client investment (11,907) (5,215) PP&E Capital Expenditures…
INOVA Geophysical Q1 2011 Financial Overview Q110 vs Q111 Forecasted Revenues 35 Estimated Q1 revenues of 30 to 33 million with 30 operating loss of 7 to 9 million and net loss of 8 to 10 million.* 25 Approximately double…
INOVA Geophysical General Market Observations/Operational Highlights Strong vibrator sales in Q1 (27) with healthy order book going into Q2. Continued BGP purchases totaling 11 million for Q1. Effect of situation in Libya, Yemen…
Financial Overview Summary Full-year results are expected to be significantly back-end loaded based on the following assumptions: Increased investment in multi-client libraries; Revenue recognition of the BGP twelve-streamer…
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