ION Geophysical (IO) Bounce-Back Momentum; InfoSonics (IFON) Significant Improvement
Shares of ION Geophysical Corp. (NYSE:IO) climbed more than 70% in early trading Thursday after the company delivered better-than-expected quarterly financial results and announced a $25 million share buyback program.
For the third quarter 2015, ION Geophysical posted revenues of $66.67 million, a 37.37% decrease year over year, and adjusted net loss of ($16.9) million, or $(0.10) per share, compared to adjusted net loss of ($24.5) million, or $(0.15) per share, better than the Capital IQ Consensus Estimate of ($0.21) loss per share on revenues of $37.45 million for the period
IO stock is currently exchanging hands for about $0.36, up $0.10 (or +38.92%), with 6,424,991 shares traded so far
ION Geophysical, a leading provider of technology-driven solutions to the global oil & gas industry, has 164.71M Shares Outstanding and IO stock 52-week range is $0.26 – $3.02 per share
InfoSonics Corp. (Nasdaq:IFON) shares soared on Thursday’s market activity, currently trading at $1.88, up $0.67 (or +55.37%) as the company achieved a significant financial improvement in its earnings report.
For the third quarter 2015, InfoSonics posted net sales of $12.2 million, a 50% increase year over year, and a net loss of ($138,000), or ($0.01) per share, compared to a net loss of ($633,000), or ($0.04) per share in the same period the prior year
5,628,432 shares of the company have traded so far during the day, a large increase on activity versus its average volume (3M) of 79,545
InfoSonics, a manufacturer and provider of wireless handsets, tablets and related products, has 14.39M Shares Outstanding and IFON stock one-year range is between $1.05 and $3.25 per share
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