HOUSTON, Nov. 4, 2015 /PRNewswire/ -- ION Geophysical
Corporation (the "Company") (NYSE: IO) today announced that
its board of directors has authorized the Company to repurchase,
from time to time from November 10,
2015 through November 10,
2017, up to $25 million in
shares of its outstanding common stock. The stock repurchase
program may be implemented through open market repurchases or
privately negotiated transactions, at management's
discretion. The actual timing, number and value of shares
repurchased under the program will be determined by management at
its discretion and will depend on a number of factors including the
market price of the Company's shares of common stock and general
market and economic conditions, applicable legal requirements and
compliance with the terms of the Company's outstanding
indebtedness.
About ION
ION is a leading provider of
technology-driven solutions to the global oil & gas
industry. ION's offerings are designed to help companies
reduce risk and optimize assets throughout the E&P lifecycle.
For more information, visit iongeo.com.
Contact
Jamey S.
Seely
Executive Vice President and General Counsel
+1.281.552.3011
The information included herein contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. These forward-looking statements include
statements concerning future activities and the ultimate outcome of
litigation, which is inherently unpredictable. Actual results
may vary materially from those described in these forward-looking
statements. All forward-looking statements reflect numerous
assumptions and involve a number of risks and uncertainties.
Risk factors, which could affect actual results, are disclosed by
the Company from time to time in its filings with the Securities
and Exchange Commission ("SEC"), including its Annual Report on
Form 10-K for the year ended December
31, 2014 and its Quarterly Reports on Form 10-Q filed during
2015.
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SOURCE ION Geophysical Corporation