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Investor Presentation – Ion Geophysical Corp

Ion Geophysical Corp · May 31, 2007 · 35 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. Investor Presentation – Ion Geophysical Corp – slide 1
    Growth Through Game-Changing Technology May 2007
  2. Investor Presentation – Ion Geophysical Corp – slide 2
    Forward-looking Statement 2 All presentations today may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- looking statements include statements as to…
  3. Investor Presentation – Ion Geophysical Corp – slide 3
    About The I/O Family of Companies A Leading Seismic Imaging Solutions Provider 3 Founded in 1968 (NYSE: IO) Global presence via 20 international offices Transformation started 2003 Focus on full-wave seismic Game-changing…
  4. Investor Presentation – Ion Geophysical Corp – slide 4
    Desperate Age of Exploration 4 1 BOE found for every 2 BOE consumed Smaller prospects, deeper in the geologic section Increasing focus on land (75% of global reserves) Projected Global Oil Supply & Demand 120,000 Thousands of…
  5. Investor Presentation – Ion Geophysical Corp – slide 5
    Seismic Imaging Market Ten (Billion) by 2010 5 Annual Revenues by Sub-sector ( Millions) 12,000 CAGR = 8.8% Processing Land equipment 10,000 Land acquisition CAGR = 6.0% 8,000 Marine equipment Seabed acquisition 6,000…
  6. Investor Presentation – Ion Geophysical Corp – slide 6
    Seismic Market Expansions Increasing in Both Land & Marine 6 Marine Market Land Market New Seismic Vessels Land Crew Expansion *Channel counts also significantly increasing. 125 650 120 115 600 105 550 95 500 85 450 75 400…
  7. Investor Presentation – Ion Geophysical Corp – slide 7
    Our View of Seismic Market Evolution At the Dawn of the Full-wave Era 7 Technology S-curves in Seismology Full-wave Era Characteristics of the Full-wave Era Measurement of both P- and S-waves Densely sampled data Game-changing…
  8. Investor Presentation – Ion Geophysical Corp – slide 8
    I/O Strategic Imperatives 8 Lead Full-wave era Systems: Full-wave Technology Platforms Solutions: Survey design and support, data processing and interpretation Greater Image Quality Drives Better Exploration Success…
  9. Investor Presentation – Ion Geophysical Corp – slide 9
    I/O Product Life Cycle Positioning 9 A Portfolio Approach 2007 2004 Land System Vibrators Marine Four Geophones Spectra Seismic Imaging Solutions Streamer Scorpion & Data Processing Products Vibrators Wave Equation…
  10. Investor Presentation – Ion Geophysical Corp – slide 10
    I/O Growth Engines 10 Revenues in Millions 1200 Seismic Imaging Solutions Land 1000 Marine 800 600 400 200 0 2006 2011E Gross margin 29.3% 35 - 37% Op margin 6.8% 15 - 18% Revenues projected to double by 2011; Operating…
  11. Investor Presentation – Ion Geophysical Corp – slide 11
    Seismic Imaging Solutions 11 Globalization of processing processing services in 8 worldwide locations Expansion into Land Processing Expansion of ISS (multi-client programs) Revenues in Millions 350 Data Library 300 ISS…
  12. Investor Presentation – Ion Geophysical Corp – slide 12
    Global Data Processing Footprint Advanced Imaging Service Centers in Key Markets 12 As of February 2007 Processing Service Locations
  13. Investor Presentation – Ion Geophysical Corp – slide 13
    Integrated Seismic Solutions (ISS) SPAN Programs from 2000-06 13 ArcticSPAN 2006 NovaSPAN GulfSPAN CaribeSPAN ColombiaSPAN IndiaSPAN AfricaSPAN 2004 GulfSPAN SPAN Programs: Ultra-deep geophysical data libraries…
  14. Investor Presentation – Ion Geophysical Corp – slide 14
    ISS (Multi-client) and Data Library Growth 14 Revenues in Millions 120 Fully underwritten surveys 104 100 Contract vessels 89 Data library sales 80 Processing in-house Retain data ownership 60 40 40 20 17 0 2002 2003…
  15. Investor Presentation – Ion Geophysical Corp – slide 15
    Marine Growth 15 Towed Streamer Seabed Digi product line VSO Expanding market Next-generation streamer Concept ORCA Revenues in Millions 350 Seabed 300 Data Mgmt Software 250 Towed Streamer 200 150 100 50 0 2006 2011E Gross…
  16. Investor Presentation – Ion Geophysical Corp – slide 16
    Towed Streamer Operations Key Hardware & Software Components 16 Navigation & Positioning Software Recording Hardware Energy Sources Towed Streamer Cables Streamer Positioning & Control Devices
  17. Investor Presentation – Ion Geophysical Corp – slide 17
    Marine Seabed Systems VectorSeis Ocean (VSO) 17 Advanced technology for full-wave, seabed acquisition Approximately 10% of marine market OBC (ocean bottom cable) Benefits of OBC and VSO : Ideal for obstructed and shallow waters…
  18. Investor Presentation – Ion Geophysical Corp – slide 18
    Land Growth 18 More competitive cable-based system - Scorpion New cableless system - FireFly Revenues in Millions 500 FireFly Base business 400 300 200 100 0 2006 2011E Gross margin 19.2% 38 - 40% Op margin 12.7% 34 - 36%
  19. Investor Presentation – Ion Geophysical Corp – slide 19
    Land Imaging Systems Base Business: A Tale of Three Segments 19 Sensors Sensor geophones Field proven single component sensor Market leader with over 9 million geophones in service worldwide VectorSeis sensors Digital 3C MEMS…
  20. Investor Presentation – Ion Geophysical Corp – slide 20
    FireFly Ecosystem Integrated Systems Approach 20 FireFly Ecosystem Integrated hardware, software and proprietary processing techniques provided by the I/O family of companies Real-time field Comprehensive Flexible survey Densely…
  21. Investor Presentation – Ion Geophysical Corp – slide 21
    The FireFly Difference in a Nutshell 21 Game-Changing Improvements across the Board Station Equipment Layout & Pre- Surveying Density Deployment Shooting Processing Conventional Cable Stakes & Cable-Constrained 25 Tons Visual…
  22. Investor Presentation – Ion Geophysical Corp – slide 22
    First Commercial Application of FireFly BPs Wamsutter Field in Wyoming 22 The Challenges at BPs Wamsutter Field BP America commits to a major infill drilling program that requires in excess of 1 billion of capital Subtle…
  23. Investor Presentation – Ion Geophysical Corp – slide 23
    The FireFly Difference in a Nutshell Our experience with BP 23 Conventional 20 - 40 Folds Data Quality 400 1000 Folds Conventional 75 Man Crew Crew Size 45 Man Crew Pre- Layout Shooting Pickup Processing Conventional…
  24. Investor Presentation – Ion Geophysical Corp – slide 24
    Building a New Kind of Seismic Company A Case Study of FireFly 24 ISS Integrated Seismic Services FireFly Seabed Geophysical Solutions Survey Data Geophysical Services design processing Land Marine Software Seismic…
  25. Investor Presentation – Ion Geophysical Corp – slide 25
    A Vision for Growth over the Next Five Years Potential Revenues and the Drivers of Success 25 Consolidated Revenues ( Millions) Demonstrating the advantages 1200 of densely sampled, full-wave CAGR = 16% imaging 1100 Developing…
  26. Investor Presentation – Ion Geophysical Corp – slide 26
    Financials
  27. Investor Presentation – Ion Geophysical Corp – slide 27
    Net Revenues 27 ( Millions) 600 504 500 400 363 300 241 200 165 150 119 100 0 2002 2003 2004 2005 2006 Q1 2007
  28. Investor Presentation – Ion Geophysical Corp – slide 28
    Revenues/Gross Margin 28 Revenues Millions Gross Margin % 504 35 500 30.6 400 363 30 27.0 300 25 200 23.1 165 100 20 2005 2006 Q1 2007 2005 2006 Q1 2007
  29. Investor Presentation – Ion Geophysical Corp – slide 29
    Segment Revenues 29 ( Millions) Land Imaging Systems Marine Imaging Systems 250 150 128 205.8 200 125 157 100 150 75 69 100 73.5 44.1 50 50 25 0 0 2005 2006 Q1 2007 2005 2006 Q1 2007 Seismic Imaging Solutions GXT Data…
  30. Investor Presentation – Ion Geophysical Corp – slide 30
    EBITDA 30 ( Millions) 100 83 80 60 43 40 21 20.4 20 -49 -9 - (20) (40) (60) 2002 2003 2004* 2005 2006 Q1 2007 EBITDA (earnings before net interest expense, taxes, depreciation, and amortization) * Restated
  31. Investor Presentation – Ion Geophysical Corp – slide 31
    Diluted EPS 31 0.40 0.35 0.33 0.30 0.25 0.22 0.20 2005 2006 Q1 2007 Diluted EPS 4
  32. Investor Presentation – Ion Geophysical Corp – slide 32
    Balance Sheet Highlights 32 12/31/05 12/31/06 3/31/07 Total LT Debt 71.5 MM 71.0 MM 82.5 MM LT Debt/Cap 12.1% 11.9% 13.5% Net Debt/Cap 10.2% 10.2% 13.6% Cash & Eq 15.9 MM 17.1 MM 6.9 MM
  33. Investor Presentation – Ion Geophysical Corp – slide 33
    I/O Updated Annual Guidance 33 2007 Revenues 610 670 MM Gross Margin 29 31% Operating Exp 20 22% as % of Rev Diluted EPS 0.45 0.60
  34. Investor Presentation – Ion Geophysical Corp – slide 34
    Investment Highlights 34 I/O + GXT + Concept Systems = technology-focused seismic solutions company Customized technologies that when integrated across the seismic value chain create significant competitive advantages…
  35. Investor Presentation – Ion Geophysical Corp – slide 35
    The End Thank You for Your Time 35

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