Ion Geophysical (IO) reported solid fourth quarter earnings last Wednesday. The company's revenue and EPS beats sent the stock rallying by more than 20%. Despite the rise in share prices, the company's 2021 bonds dropped in price from the high to mid-90s. At the current price of 96.5 cents on the dollar, combined with a 9.125% coupon, the bonds yield 10.5% to maturity. A deeper look into Ion's financial performance and outlook should help fixed income investors determine if their high yield bonds are a good investment.
Source: FINRA
2018 was a challenging year for