ION Earnings Call Q1 2014 Earnings Call Presentation May 1, 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…
ION Q1 2014 Overview Adjusted Diluted EPS Revenues ( Millions) Revenues up 12% 0.05 150 Up 12% Software segment up 0.04 100 0.03 OceanGeo consolidation 0.02 Largest data processing 50 0.01 contract - 0 Q1 13 Q1 14 Q1 13 Q1…
Solutions Segment Q1 GeoVentures Revenues Q1 revenues 46M Data library revenues 13M, up 40% New Venture revenues 33M, down 32% 5
Solutions Segment Q1 GeoVentures Activity PeruSPANTM Porcupine 3D 12,600 km 2D multi-client survey 4,015 sq km 3D multi-client survey First regional, deep focused integrated offshore southwest Ireland geological and geophysical…
Solutions Segment Q1 Data Processing Highlights Q1 revenues up 38% Data Processing Revenues ( Millions) 50 Up 12% Signed largest data processing 40 contract in ION history 30 20 10 0 Q1 13 Q1 14 7
Software and Systems Segments Q1 Highlights Software Segment Record Q1 revenues Strong Orca and Gator licensing Systems Segment Q1 sales 25M, down 22% from Q1 13 Gator II No ocean bottom system sales Partially offset by…
Ocean Bottom Services Segment Q1 OceanGeo Highlights Petrotrin survey going well ION and OceanGeo teams collaborating to optimize performance and productivity OceanGeo working to fill pipeline and secure next project award…
ION Q1 14 Highlights Revenue M Op. Margin % Revenues up 12% Y/Y 150 15% 14% Solutions flat 100 10% Software up 15% 50 5% Systems down 22% 1% - 0% Q1 13 Q1 14 Q1 13 Q1 14 First time consolidation of OceanGeo Solutions Systems…
Solutions Segment Financial Overview Q1 14 Revenue by Type M Solutions segment revenues flat Y/Y: 100 Data processing up 38% 80 New Ventures down 32% 60 Data libraries up 40% 40 20 Single largest data processing contract…
Software Segment Financial Overview Q1 14 Revenue by Type M Software segment revenues up 12 15% Y/Y 10 8 6 Record Q1 revenues 4 2 Increased Orca and Gator - software and hardware sales Q1 13 Q1 14 Software Systems…
Systems Segment Financial Overview Q1 14 Revenue by Type M Systems segment revenues down 35 30 22% Y/Y 25 20 15 No ocean bottom cable system 10 sales in Q1 14 5 - Q1 13 Q1 14 Increase in repair and replacement Towed…
Ocean Bottom Services Segment Financial Overview Q1 14 Revenue M Increased ownership in OceanGeo 25 to 70% in January 2014 20 15 Consolidated Q1 reflects OceanGeo 10 Feb-Mar results 5 - 21M revenue, 4M operating Q1 14…
INOVA Geophysical Financial Overview Q1 14 Q4 Revenues M Q4 Op. Margin % Q4 2013 In ION Q1 14 Results 60 4% Revenues of 40M, operating 50 2% loss of (4M) 40 0% 30 -2% (0%) Decrease in vehicle sales, 20 -4% partially offset…
Financial Overview Cash Flow SUMMARIZED CASH FLOW Thousands Q1 13 Q1 14 Cash from operations 19,336 34,703 Working capital 30,255 27,979 Multi-client investment (28,778) (22,353) PP&E Capital Expenditures (3,774) (1,997)…
Financial Overview Balance Sheet as of March 31, 2014 Capital Employed M Capital Book Value M 600 700 600 500 500 400 243M 239M 400 300 300 200 200 100 220M 241M 100 197M 148M 72M 44M 0 0 Q4 13 Q1 14 Q4 13 Q1 14…
Summary Operationally well positioned Continue to strengthen global 2D data library Executing in vast 3D multi-client market Actively participating in fast-growing ocean bottom market Headwinds exist Continued caution in E&P…
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