ION GEOPHYSICAL CORP (IO) [Rocket]

In millions, except per share items	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13
	10-K	10-K	10-K	10-K	10-K	10-K/A	10-K	10-K/A
Revenues:
E&P Technology & Services				157.2		157.3
Latin America	43.4	64.6	91.8	68.2		16.4	111.1
North America	9.5	28.0	19.0	48.1		74.6	130.2
Europe	18.0	22.1	18.5	44.9		72.6	100.2
Other	51.8	60.0	50.7				168.1
Total revenues [+]	122.7	174.7	180.0	197.6	172.8	221.5	509.6	164.1
Products						61.0	124.6
Services						160.5	384.9
Revenue growth [+]	-29.8%	-3.0%	-8.9%	14.3%	-22.0%	-56.5%	210.4%	-13.1%
Latin America	-32.9%	-29.6%	34.6%			-85.2%
North America	-65.9%	46.9%	-60.5%			-42.7%
Europe	-18.8%	19.4%	-58.8%			-27.6%
Asia Pacific	-8.9%	-15.1%	14.2%			-61.6%
Cost of goods sold [+]	81.0	114.7	120.4	121.9	136.8	213.5	447.3	173.6
Cost of product sales						33.3	68.6
Cost of services						180.2	278.6
Gross profit	41.7	60.0	59.6	75.6	36.0	8.0	62.2	-9.5
Gross margin	34.0%	34.4%	33.1%	38.3%	20.9%	3.6%	12.2%	-5.8%
Selling, general and administrative [+]	39.1	65.5	59.2	67.9	61.4	30.5	115.9	22.3
Sales and marketing	11.7	23.2	21.8	20.8	17.4	30.5	39.7	8.4
General and administrative	27.5	42.2	37.4	47.1	44.0		76.2	13.9
Research and development	13.0	19.0	18.2	16.4	17.8	26.4	41.0	16.2
Equity in earnings							-49.5
Other operating expenses						51.7
EBITDA [+]	-6.4	-20.8	-9.0	7.9	-21.2	-74.1	-116.5	-8.5
EBITDA growth	-69.0%	132.3%	-213.5%	-137.2%	-71.4%	-36.4%	1263.5%	-152.0%
EBITDA margin	-5.3%	-11.9%	-5.0%	4.0%	-12.3%	-33.5%	-22.9%	-5.2%
Depreciation and amortization	4.0	3.7	8.8	16.6	22.0	26.5	27.7	39.4
EBIT [+]	-10.4	-24.5	-17.7	-8.7	-43.2	-100.6	-144.1	-48.0
EBIT growth	-57.3%	38.0%	103.7%	-79.8%	-57.1%	-30.2%	200.5%	1261.4%
EBIT margin	-8.5%	-14.0%	-9.8%	-4.4%	-25.0%	-45.4%	-28.3%	-29.2%
Non-recurring items [+]	4.2		36.6				23.3
Asset impairment	4.2		36.6				23.3
Interest expense	13.8	13.1	13.0	16.7	18.5	18.8	19.4	2.5
Interest expense	13.8	13.1	13.0	16.7	18.5	18.8	19.4	2.5
Other income (expense), net [+]	6.9	-1.6	-0.4	-3.9	1.4	98.3	79.9	0.6
Other						98.3	79.9
Pre-tax income	-21.5	-39.2	-67.7	-29.4	-60.3	-21.1	-106.9	-49.9
Income taxes	15.6	8.1	2.7	0.0	4.4	4.0	20.6	5.0
Tax rate
Minority interest	0.1	1.0	0.8	0.9	0.4	0.0	0.7
Net income	-37.2	-48.2	-71.2	-30.2	-65.1	-25.2	-128.3	-54.9
Net margin	-30.3%	-27.6%	-39.5%	-15.3%	-37.7%	-11.4%	-25.2%	-33.4%

Basic EPS [+]	($2.61)	($3.41)	($5.20)	($2.55)	($5.71)	($2.30)	($11.72)
Growth	-23.5%	-34.4%	104.1%	-55.4%	148.9%	-80.4%
Diluted EPS [+]	($2.61)	($3.41)	($5.20)	($2.55)	($5.71)	($2.30)	($11.72)
Growth	-23.5%	-34.4%	104.1%	-55.4%	148.9%	-80.4%


Shares outstanding (basic) [+]	14.3	14.1	13.7	11.9	11.4	11.0	10.9
Growth	1.0%	3.2%	15.3%	4.2%	4.0%	0.2%
Shares outstanding (diluted) [+]	14.3	14.1	13.7	11.9	11.4	11.0	10.9
Growth	1.0%	3.2%	15.3%	4.2%	4.0%	0.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.