ION Geophysical (NYSE: IO) reported earnings on Feb. 15. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), ION Geophysical whiffed on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue improved slightly, and GAAP earnings per share dropped significantly.

Margins contracted across the board.

Revenue details
ION Geophysical logged revenue of $159.9 million. The two analysts polled by S&P Capital IQ foresaw revenue of $187.9 million on the same basis. GAAP reported sales were 0.8% higher than the prior-year quarter's $158.6 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $0.15. The three earnings estimates compiled by S&P Capital IQ averaged $0.15 per share on the same basis. GAAP EPS of $0.08 for Q4 were 38% lower than the prior-year quarter's $0.13 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 40.4%, 140 basis points worse than the prior-year quarter. Operating margin was 20.9%, 80 basis points worse than the prior-year quarter. Net margin was 7.7%, 520 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $120.5 million. On the bottom line, the average EPS estimate is $0.05.

Next year's average estimate for revenue is $622.7 million. The average EPS estimate is $0.48.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 736 members rating the stock outperform and 35 members rating it underperform. Among 209 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 201 give ION Geophysical a green thumbs-up, and eight give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ION Geophysical is outperform, with an average price target of $14.00.

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