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                                                                    EXHIBIT 99.1


                     INDEPENDENT ACCOUNTANTS' REVIEW REPORT


The Board of Directors and Stockholders
Of Input/Output, Inc. and subsidiaries

         We have reviewed the accompanying consolidated balance sheet of
Input/Output, Inc. and subsidiaries as of June 30, 2001, the related
consolidated statements of operations for the three-month and six-month periods
ended June 30, 2001 and 2000 and the related statements of cash flows for the
six-month periods ended June 30, 2001 and 2000. These consolidated financial
statements are the responsibility of the Company's management.

         We conducted our review in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures to
financial data and making inquiries of persons responsible for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
an expression of an opinion regarding the financial statements taken as a whole.
Accordingly, we do not express such an opinion.

         Based on our review, we are not aware of any material modifications
that should be made to the consolidated financial statements referred to above
for them to be in conformity with accounting principles generally accepted in
the United States of America.

         We have previously audited, in accordance with auditing standards
generally accepted in the United States of America, the consolidated balance
sheet of Input/Output, Inc. and subsidiaries as of December 31, 2000, and the
related consolidated statements of operations, stockholders' equity and
comprehensive loss and cash flows for the seven-month period ended December 31,
2000 (not presented herein); and in our report dated February 1, 2001, we
expressed an unqualified opinion on those consolidated financial statements. In
our opinion, the information set forth in the accompanying consolidated balance
sheet as of December 31, 2000 is fairly stated, in all material respects, in
relation to the consolidated balance sheet from which it has been derived.

                                                             /s/ KPMG LLP
Houston, Texas
July 26, 2001