HOUSTON, June 14, 2018 /PRNewswire/ -- ION
Geophysical Corporation (NYSE: IO) today announced the second sale
of a number of its highly differentiated optical magnetic heading
sensors to enable subsea vehicles to quickly reach their desired
destinations. In the fourth quarter, successful field trials
demonstrated the advanced compasses' accuracy and robustness in
GPS-deprived environments and led to delivery of the first
commercial order in the first quarter.
This example demonstrates how ION can successfully broaden its
customer base and diversify its technology into adjacent
markets. In less than a year, the Devices business line made
agile adjustments to adopt the mature compass offering from ION's
industry-leading towed streamer positioning solution to suit the
underwater vehicle market's navigation requirements.
"The customer has been really pleased with our optical magnetic
heading sensor's unique performance and how quickly we integrated
it into their subsea vehicle precision navigation," said
Chris Usher, Executive Vice
President of ION's Operations Optimization group. "In
multiple tests we have demonstrated improved positioning accuracy
to under half a percent of the distance travelled, without the aid
of GPS or acoustic navigation and without locally calibrating the
compass. Our mechanically gimbaled optical magnetic heading
sensor does not require calibration across different latitudes as
the Earth's magnetic field changes. We are exploring
additional commercial opportunities for our technologies in marine
robotics and other industries."
To learn more, visit iongeo.com/Compass.
About ION
ION develops and leverages innovative technologies, creating
value through data capture, analysis and optimization to enhance
critical decision-making, enabling superior returns. For more
information, visit iongeo.com.
Contacts
ION (Investor relations)
Executive Vice President and Chief Financial Officer
Steve Bate, +1 281.552.3011
steve.bate@iongeo.com
ION (Media relations)
Vice President, Communications
Rachel White, +1 281.781.1168
rachel.white@iongeo.com
The information 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 may include information and other
statements that are not of historical fact. 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. These
risks and uncertainties include the risks associated with the
timing and development of ION Geophysical Corporation's products
and services; pricing pressure; decreased demand; changes in oil
prices; and political, execution, regulatory, and currency risks.
These risks and uncertainties also include risks associated with
the WesternGeco litigation and other related proceedings. We cannot
predict the outcome of this litigation or the related
proceedings. For additional information regarding these
various risks and uncertainties, including the WesternGeco
litigation, see our Form 10-K for the year ended December 31, 2017, filed on February 8, 2018. Additional risk factors, which
could affect actual results, are disclosed by the Company in its
fillings with the Securities and Exchange Commission ("SEC"),
including its Form 10-K, Form 10-Qs and Form 8-Ks filed during the
year. The Company expressly disclaims any obligation to revise or
update any forward-looking statements.
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SOURCE ION Geophysical Corporation