Ion Geophysical Corp (IO) 2012年年度报告「NYSE」.pdf

1、R.Brian HansonPresident and Chief Executive OfficerLetter toSHAREHOLDERS12012 was a very good year for ION.We started off strong,with one of our best first quarters ever in terms of revenue,operating income,and net income.For the year,we generated$526 million in revenues,up 16%from 2011.We recorded

2、our largest operating income since 1998 and the second largest in our history.Gross margins were up three points,and we delivered$0.39 in earnings per share to our shareholders,an increase of 160%from 2011.It was also a good year for the industry.According to industry research,capital expenditures b

3、y E&P companies increased about 10%,led by growth in international exploration,particularly offshore Latin America,China,India,Asia,Australia,the Middle East,and Africa.While ION benefitted from these favorable market conditions,I attribute our success in large part to our steadfast commitment to ou

4、r strategy of providing E&P companies with high-value geophysical solutions that leverage and pull through sales of our key technologies.Our strategy to transform ION into a provider of integrated geophysical solutions to the global E&P industry is working.Working directly with E&P companies allows

5、us to demonstrate the value of our technologies to them,which develops more lasting relationships,and generates higher quality revenue streams.Weve set a goal to generate at least 85%of our revenues from E&P companies by 2017.In 2009,we were at 45%.In 2012,we reached 67%.To better align our business

6、 to execute the strategy,we made some organizational changes in 2012.We hired industry veteran Chris Usher to serve as Executive Vice President and Chief Operating Officer of a new ION GeoScience division,which brought together our GX Technology(GXT)data processing and Concept Systems software busin