Yesterday, on July 15, ION’s stock was $1.5. However, today it is gaining momentum: it is currently at $1.68, resulting in a 12% gain. The company today announced that it expects second-quarter 2021 revenues to be around $20 million, a boost of approximately 40% sequentially or a drop of 13% from the prior period. At quarter-end, the company’s liquidity was $33 million consisting of $27 million of cash (including borrowings of $20 million) and $6 million of remaining available borrowing capacity under the revolving credit facility.
The delay is estimated to be $ 14 million as the Mid North Sea High 3D multi-client program in the North Sea was used ahead of schedule using digital technology patented by Marlin and Orca to make filming more efficient and sustainable. manner.
ION Geophysical provides data-driven decision-making to offshore energy, and ports, and defense industries worldwide. The company operates through two segments, E&P Technology & Services, and Operations Optimization. The E&P Technology & Services segment creates digital data assets and delivers services to help E&P companies improve decision-making and reduce risk.
Finance and Entertainment Reporter
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