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Press release content from Globe Newswire. The AP news staff was not involved in its creation. ION reports first quarter 2021 results, reflecting third consecutive increase in backlog and . ION Geophysical CorporationMay 5, 2021 GMT HOUSTON, May 05, 2021 (GLOBE NEWSWIRE) ION Geophysical Corporation (NYSE: IO) today reported total net revenues of $14.0 million in the first quarter 2021, a 49% decrease compared to $27.3 million in the fourth quarter 2020 and a 75% decrease compared to $56.4 million one year ago. At March 31, 2021, backlog, which consists of commitments for multi-client programs and proprietary imaging work, was $21.4 million or 9% higher compared to December 31, 2020. Net loss attributable to ION in the first quarter 2021 was $7.2 million, or a loss of $0.46 per share, compared to a net loss attributable to ION of $2.3 million, or a loss of $0.16 per share in the first quarter 2020. Excluding special items in both periods, the Company reported an A

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