Thursday, January 31, 2002
Input/Output posts Q4 profit
Houston Business Journal
Input/Output Inc., a Houston-based seismic data company, on Thursday said it posted a profit in the fourth quarter vs. a net loss in the year-ago period due to higher sales from its land and marine divisions.
The company earned $600,000, or a penny per share, in the fourth quarter compared to a net loss of $ 4 million, or 8 cents per share, in the same period last year.
Fourth-quarter revenues rose 26.5 percent to $51.1 million compared to $40.4 million in the year-earlier period.
Looking forward, the company said it expects a 5 percent to 10 percent drop in revenues in 2002 compared to 2001.
Shares of Input/Output closed Wednesday at $8.50 on the New York Stock Exchange.
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