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Q3 2012 EARNINGS CALL – Cal Dive International

Cal Dive International · Nov 8, 2012 · 12 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. Q3 2012 EARNINGS CALL – Cal Dive International – slide 1
    Cal Dive International 3rd Quarter 2012 Earnings Conference Call
  2. Q3 2012 EARNINGS CALL – Cal Dive International – slide 2
    Forward-Looking Statements This presentation may include forward-looking statements that are generally identifiable through the use of words such as believe, expect, anticipate, intend, plan, estimate, project and similar expressions and…
  3. Q3 2012 EARNINGS CALL – Cal Dive International – slide 3
    Presentation Outline Summary of 3Q 2012 Backlog Discussion of Financial Results Non-GAAP Reconciliations Q&A 3
  4. Q3 2012 EARNINGS CALL – Cal Dive International – slide 4
    Summary of 3Q 2012 Interruption to Uncle John operations in 3Q; has since returned to work. Low profitability for Kestrel in spot market in 3Q; now on two-year charter in Mexico. Significant loss on a lump sum project in GoM.…
  5. Q3 2012 EARNINGS CALL – Cal Dive International – slide 5
    Backlog ( millions) 300 250 200 150 260 233 238 224 221 100 191 190 178 176 50 - 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 5
  6. Q3 2012 EARNINGS CALL – Cal Dive International – slide 6
    Financial Results (all amounts in thousands, except per share amounts and percentages) Three Months Nine Months Ended September 30, Ended September 30, 2012 2011 2012 2011 Revenues 138,113 132,906 318,451 352,377 Gross Profit…
  7. Q3 2012 EARNINGS CALL – Cal Dive International – slide 7
    Utilization (The following statistics are for owned vessels only) Three Months Nine Months Ended September 30, Ended September 30, 2012 2011 2012 2011 Effective Utilization (1) - Saturation Diving Vessels 83% 67% 67% 59%…
  8. Q3 2012 EARNINGS CALL – Cal Dive International – slide 8
    Revenue Breakdown ( millions) Domestic International 400 350 130 300 37% 149 250 47% 200 222 150 63% 35 26% 72 169 100 52% 53% 98 66 50 74% 48% 0 3Q 2011 3Q 2012 YTD 3Q 2011 YTD 3Q 2012 8
  9. Q3 2012 EARNINGS CALL – Cal Dive International – slide 9
    Debt Levels ( millions) Net Debt Levels (1) Net Debt to Book Cap. % (2) 350 Horizon Acquisition 40% 300 35% 34% 30% 36% 250 33% 314 25% 35% 29% 200 254 27% 20% 27% 150 162 183 161 15% 21% 149 100 141 134 10% 50…
  10. Q3 2012 EARNINGS CALL – Cal Dive International – slide 10
    Revolver Capacity Company in compliance with all financial covenants as of September 30, 2012 and expects to be in compliance at December 31, 2012. Since Company is in compliance, borrowing capacity is not limited by leverage ratio…
  11. Q3 2012 EARNINGS CALL – Cal Dive International – slide 11
    Non-GAAP Reconciliations 11
  12. Q3 2012 EARNINGS CALL – Cal Dive International – slide 12
    EBITDA Reconciliations (all amounts in thousands) Three Months Nine Months Ended September 30, Ended September 30, 2012 2011 2012 2011 EBITDA (unaudited) 11,016 20,887 9,734 27,823 Less: Depreciation & Amortization 15,994…

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