ION Geophysical Down 28% on Downbeat Earnings

ION Geophysical IO is down 28% on the downbeat earnings reported yesterday. The company announced Q2 EPS $0.02 vs $0.04 Est; Revenues $88.5M vs $115.25M Est and also a planned CEO transition. ION Geophysical is currently trading at $6.93, a loss of $2.66 or 27.74%.