ION Geophysical Corporation (NYSE:IO)
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The Company offers a full suite of related products and services for seismic data acquisition and processing, including products incorporating traditional analog technologies and products incorporating the proprietary VectorSeis, True Digital technology.
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IO has developed the technology to transform the land drilling industry. Cableless seismic technology (Firefly) is the future of the industry and Input/Output is leading the way. BP basically said they loved the technology and may re-map whole projects with the new cableless system because of its high data quality. It is also much safer for the employees and is effective in environmentally sensitive areas in which regulations limit cables.
IO is also diversified - with profits stemming from all over the world. They are also involved with offshore seismic data gathering as well, which is a great industry to be in because demand shouldn't start to wane for several years.
IO is a great company positioned to be the leader of its industry. The P/E is a little high right now, but it is justified because Firefly will change the way the whole game is played. Buy I/O.