This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cal Dive Reports Third Quarter 2013 Results

Stocks in this article: DVR

Cal Dive International, Inc. (NYSE: DVR) generated a loss for the third quarter 2013 of $3.8 million, or $0.04 per diluted share, excluding a $13.0 million after-tax non-cash impairment charge primarily related to four domestic construction barges. This compares to a loss in the prior year third quarter of $6.6 million, or $0.07 per diluted share, excluding a $14.8 million after-tax non-cash impairment charge and a $5.4 million after-tax non-cash benefit related to the fair value adjustment of the Company’s convertible debt. Including the non-cash impairment charges, the Company reported a loss of $16.8 million, or $0.18 per diluted share for the third quarter 2013 compared to a loss in the prior year third quarter of $15.9 million, or $0.17 per diluted share. For the third quarter 2013, the Company reported revenues of $155.2 million and EBITDA of $13.4 million compared to revenues of $138.1 million and EBITDA of $11.0 million for the third quarter 2012.

Commenting on the results, Cal Dive’s Chairman, President and Chief Executive Officer, Quinn Hébert, stated, “The third quarter was significantly impacted by un-seasonable weather throughout the Gulf of Mexico, including Hurricane Ingrid, that delayed the start of our offshore construction work in Mexico, as well as several tropical depressions that effectively caused nearly a month of cumulative downtime in the domestic market. Additionally, we continue to face the same challenging market in the shallow water U.S. Gulf of Mexico, with a competitive pricing environment and lower margins on awarded work.

“Our improvement over the third quarter 2012 was driven by our projects in Mexico, although the offshore work did not begin until late in the third quarter. Overall, the execution on our combined projects is progressing as anticipated and we are currently operating five assets in the region for Pemex. We expect bidding activity for Pemex work to continue to be strong in the coming months.”

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs