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Q4 2009 EARNINGS CALL – Cal Dive International

Cal Dive International · Feb 25, 2010 · 11 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q4 2009 EARNINGS CALL – Cal Dive International – slide 1
    C l Di I Cal Dive International i l 4th Quarter 2009 Earnings Conference Call
  2. Q4 2009 EARNINGS CALL – Cal Dive International – slide 2
    Presentation Outline Presentation Outline Summary of 4Q 2009 Results Backlog Discussion of Financial Results Non-GAAP Reconciliations Questions & Answers 3
  3. Q4 2009 EARNINGS CALL – Cal Dive International – slide 3
    Summary of 4Q Results Limited customer capex spending. Seasonal weather. Mechanical downtime for vessel in international region. region Higher g effective tax rate. Continued pricing pressure. 4
  4. Q4 2009 EARNINGS CALL – Cal Dive International – slide 4
    Backlog ( millions) 450 450 400 350 300 250 354 302 200 200 150 284 213 100 183 50 48 48 4Q08 1Q09 2Q09 3Q09 4Q09 LNG related All Other 5
  5. Q4 2009 EARNINGS CALL – Cal Dive International – slide 5
    Financial Results (all amounts in thousands, except per share amounts and percentages) 4th Quarter Year Ended 2009 2008 2009 2008 Revenues 147,396 261,656 829,362 856,906 Gross Profit 36,188 36 188 89,518 89 518 215,885 215 885…
  6. Q4 2009 EARNINGS CALL – Cal Dive International – slide 6
    Utilization 4th Quarter Year Ended 2009 2008 2009 2008 Effective Utilization (1) - Saturation Diving Vessels 58% 92% 79% 87% Surface Diving Vessels 34% 89% 57% 64% Construction Barges 32% 66% 41% 50% Total Fleet 40% 82% 57%…
  7. Q4 2009 EARNINGS CALL – Cal Dive International – slide 7
    International Revenue ( millions) 4Q 2009 300 100% 111 36 76% 24% 225 75% 150 50% 274 4Q 2008 251 184 78 75 151 25% 30% 70% 33% 29% 70 24% 16% 15% 14% 34 20 0 0% 2004 2005 2006 2007 2008 2009 Domestic…
  8. Q4 2009 EARNINGS CALL – Cal Dive International – slide 8
    Debt Levels Net Debt Levels (1) Net Debt to Book Cap. % (2) ( millions) 350 60% Horizon Acquisition Horizon Acquisition 300 50% 250 40% 53% 200 30% 150 150 35% 20% 100 27% 21% 50 10% 0% 2006 2007 2008 2009 2006…
  9. Q4 2009 EARNINGS CALL – Cal Dive International – slide 9
    Cash Flow and Liquidity ( millions) Cash Flow from Operations Liquidity Positions 400 400 354 348 250 334 350 200 300 235 250 150 273 293 296 200 100 150 140 86 110 72 100 50 50 50 49 61 61 52…
  10. Q4 2009 EARNINGS CALL – Cal Dive International – slide 10
    NonGAAP Reconciliations ili i 11
  11. Q4 2009 EARNINGS CALL – Cal Dive International – slide 11
    EBITDA Reconciliations (all amounts in thousands except ratio) 4th Quarter Year Ended 2009 2008 2009 2008 EBITDA (unaudited) 34,178 89,630 216,453 255,954 Less: Depreciation & Amortization 18,469 19,035 76,313 71,195 Less:…

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