Q2 2021 preliminary financial results announcement
On July 15, 2021, ION Geophysical Corporation announced a preliminary financial outlook for the second quarter of 2021.
The Company expects second quarter 2021 revenues to be approximately $20 million, which is a 40% improvement if we compared it with Q2 2020.
The company’s total liquidity will be approximately $33 million consisted of $27 million of cash (including net revolver borrowings of $20 million) and approximately $6 million of remaining available borrowing capacity under the revolving credit facility at the end of the 2
nd quarter of 2021.
New Board members
On June 30, 2021, ION Geophysical Corporation announced the election of Mr. Mark Doran and Mr. Gary Pittman to its Board of Directors, effective June 28, 2021. Each was also appointed to the Audit Committee of the Board.
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The Ford County Board approved a resolution supporting local control of zoning for wind and solar farms. In both the Illinois House and the Senate, bills have been introduced to turn such zoning decisions over to the state.
Board Vice-chair Cindy Ihrke said 18 other counties have taken up the resolution as well. âWe want to send the message that we want to maintain control,â she said.
The boardâs zoning committee has been working for several years to revamp its wind ordinance and has not gotten very far with creating a solar ordinance. The committee will next meet May 20 and May 27 to continue ironing language in the proposed changes and will present it to the full board some time after that.