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Q2 2011 EARNINGS CALL – Cal Dive International

Cal Dive International · Aug 3, 2011 · 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. Q2 2011 EARNINGS CALL – Cal Dive International – slide 1
    Cal Dive International 2nd Quarter 2011 Earnings Conference Call
  2. Q2 2011 EARNINGS CALL – Cal Dive International – slide 2
    Presentation Outline Summary of 2Q 2011 Results Backlog Discussion of Financial Results Non-GAAP Reconciliations Questions & Answers 3
  3. Q2 2011 EARNINGS CALL – Cal Dive International – slide 3
    Summary of 2Q Results Construction project in Bahamas completed. Increased profitability in Australia for diving related work on Gorgon project. Increased tax benefit. Slow activity levels continue in GOM. Slower than expected…
  4. Q2 2011 EARNINGS CALL – Cal Dive International – slide 4
    Backlog ( millions) 350 300 250 200 302 150 233 100 183 191 191 190 176 50 4Q 2009 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 5
  5. Q2 2011 EARNINGS CALL – Cal Dive International – slide 5
    Financial Results (all amounts in thousands, except per share amounts and percentages) Three Months Six Months Ended June 30, Ended June 30, 2011 2010 2011 2010 Revenues 124,040 124,217 219,471 181,635 Gross Profit (Loss) 1,654…
  6. Q2 2011 EARNINGS CALL – Cal Dive International – slide 6
    Utilization (The following statistics are for owned and operated vessels only) Three Months Six Months Ended June 30, Ended June 30, 2011 2010 2011 2010 Effective Utilization (1) - Saturation Diving Vessels 60% 62% 54% 50%…
  7. Q2 2011 EARNINGS CALL – Cal Dive International – slide 7
    International Revenue ( millions) 100% 15 28 90% 51 95 80% 70% 60% 50% 109 154 40% 73 125 30% 20% 10% 0% 2Q 2010 2Q 2011 YTD 2Q 2010 YTD 2Q 2011 Domestic International 8
  8. Q2 2011 EARNINGS CALL – Cal Dive International – slide 8
    Debt Levels Net Debt Levels (1) Net Debt to Book Cap. % (2) ( millions) 350 Horizon Acquisition 35% 300 33% 30% 250 35% 30% 25% 27% 314 254 27% 200 20% 150 21% 183 15% 183 155 100 141 10% 50 5% 0% 2007 2008…
  9. Q2 2011 EARNINGS CALL – Cal Dive International – slide 9
    Liquidity ( millions) 4 0.3 300 7 14 27 35 34 82 250 90 200 150 293 296 273 252 218 100 175 50 61 61 52 25 9 2 2007 2008 2009 2010 1Q 2011 2Q 2011 Cash Effective Revolver Borrowing…
  10. Q2 2011 EARNINGS CALL – Cal Dive International – slide 10
    NonGAAP Reconciliations 11
  11. Q2 2011 EARNINGS CALL – Cal Dive International – slide 11
    EBITDA Reconciliations (all amounts in thousands) Three Months Six Months Ended June 30, Ended June 30, 2011 2010 2011 2010 EBITDA (unaudited) 7,278 10,344 5,939 1,854 Less: Depreciation & Amortization 17,476 16,563 34,352…

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