The 10-second takeaway
For the quarter ended Dec. 31 (Q4), ION Geophysical beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share expanded significantly.
Gross margins grew, operating margins dropped, net margins increased.
ION Geophysical logged revenue of $173.1 million. The five analysts polled by S&P Capital IQ looked for revenue of $170.6 million on the same basis. GAAP reported sales were 8.2% higher than the prior-year quarter's $159.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.16. The six earnings estimates compiled by S&P Capital IQ forecast $0.13 per share. GAAP EPS of $0.17 for Q4 were 113% higher than the prior-year quarter's $0.08 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 42.0%, 160 basis points better than the prior-year quarter. Operating margin was 14.4%, 830 basis points worse than the prior-year quarter. Net margin was 15.7%, 800 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $124.7 million. On the bottom line, the average EPS estimate is $0.08.
Next year's average estimate for revenue is $597.7 million. The average EPS estimate is $0.50.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 739 members out of 777 rating the stock outperform, and 38 members rating it underperform. Among 185 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 179 give ION Geophysical a green thumbs-up, and six 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 $8.50.
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