Ion Geophysical Corp (IO) 1999年年度报告「NYSE」.pdf

1、I N P U T/O U T P U T,I N C.1 9 9 9 A N N U A L R E P O R TInput/Output is the energy industrysleading provider of seismic products,solutions and services that leverage information age technologies,enablingbetter,more cost-effective exploration and field development decisions.The companys mission is

2、 to producetools that assist seismic contractorsand energy producers locate,charac-terize and image oil and gas reserves.I/O intends to continue deliveringcustomer value through technologyby developing light-weight seismicdata acquisition equipment,enablingcost-effective multi-component(3-C)imaging

3、and incorporating pre-processingand post-processing software capabili-ties into the data acquisition workflow.Working together,I/O and itscustomers create value by deliveringcritical information-based innovationsto energy producers worldwide.corporate profileFiscal 1999 was a year of challenges and

4、change forour company.An unprecedented decline in energycommodity prices and corresponding explorationactivity levels adversely impacted demand for seismicsurveys,weakening the financial position of ourcustomers and forcing many seismic contractors toidle crews and equipment.With fewer opportunities

5、to sell new seismic equipment,we have had to makesome difficult decisions to effectively manage throughthe downturn.We believe these events have catalyzedour transition into a more efficient organization,better capable of deliveringmarket-moving technologies tothe worldwide energy industry.energy in

6、dustry market conditionsThe first half of calendar 1999(the third and fourth quartersof fiscal year 1999 for I/O)represented one of the most traumatic periods in therecent history of the energy industry.Many analystshave suggested that this period may ultimately berecognized as comparable or worse t