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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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