Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Gameboy who wrote (28248)	8/24/1998 7:51:00 PM
From: Broken_Clock	Read Replies (1) of 95453

Monday August 24, 7:00 pm Eastern Time Input/Output sees Q1 net below expectations HOUSTON, Aug 24 (Reuters) - Input/Output Inc. said Monday it expected net earnings for its first quarter ending August 31 to be ''substantially'' below market expectations and below earnings for the year-ago period due to decreased exploration spending by oil and gas companies. It added that the lower exploration spending resulted in less demand for its equipment. First Call expected earnings of $0.31 per share in the first quarter. In the year-ago period, the company posted net income of $11.3 million, or $0.26 per share. The seismic acquisition technology firm said in a statement that it would be profitable for the fiscal first quarter, but it expected the down market to continue for the next several months.

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