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Q4 2011 EARNINGS CALL – Cal Dive International

Cal Dive International · Mar 1, 2012 · 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 2011 EARNINGS CALL – Cal Dive International – slide 1
    Cal Dive International 4th Quarter 2011 Earnings Conference Call
  2. Q4 2011 EARNINGS CALL – Cal Dive International – slide 2
    Presentation Outline Summary of 4Q 2011 Results Backlog Discussion of Financial Results Non-GAAP Reconciliations Questions & Answers 3
  3. Q4 2011 EARNINGS CALL – Cal Dive International – slide 3
    Summary of 4Q Results Strong profitability in Australia for diving related work on Gorgon project. Decreased domestic financial results compared to 4Q 10 due to harsher weather in December and dry-dock of Uncle John. Bahamas…
  4. Q4 2011 EARNINGS CALL – Cal Dive International – slide 4
    Backlog ( millions) 350 300 250 200 302 150 233 221 100 191 191 190 178 176 50 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 5
  5. Q4 2011 EARNINGS CALL – Cal Dive International – slide 5
    Financial Results (all amounts in thousands, except per share amounts and percentages) Three Months Twelve Months Ended December 31, Ended December 31, 2011 2010 2011 2010 Revenues 127,434 161,040 479,811 536,468 Gross Profit…
  6. Q4 2011 EARNINGS CALL – Cal Dive International – slide 6
    Utilization (The following statistics are for owned and operated vessels only) Three Months Twelve Months Ended December 31, Ended December 31, 2011 2010 2011 2010 Effective Utilization (1) - Saturation Diving Vessels 47% 66%…
  7. Q4 2011 EARNINGS CALL – Cal Dive International – slide 7
    International Revenue ( millions) 100% 110 90% 50 199 80% 69 70% 60% 50% 426 40% 111 281 30% 58 20% 10% 0% 4Q 2010 4Q 2011 2010 2011 Domestic International 8
  8. Q4 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 35% 30% 33% 250 25% 30% 35% 29% 314 27% 200 254 27% 20% 150 183 178 21% 183 15% 155 134 100 141 10% 50…
  9. Q4 2011 EARNINGS CALL – Cal Dive International – slide 9
    Liquidity 150 Million Revolver* 0.2mm Cash at 12/31/2011: 16 Million 53mm *Revolver size temporarily steps down to 75 million for 1Q12 and then subsequently returns to 150 97mm million. Effective Revolver Borrowing…
  10. Q4 2011 EARNINGS CALL – Cal Dive International – slide 10
    NonGAAP Reconciliations 11
  11. Q4 2011 EARNINGS CALL – Cal Dive International – slide 11
    EBITDA Reconciliations (all amounts in thousands) Three Months Twelve Months Ended December 31, Ended December 31, 2011 2010 2011 2010 EBITDA (unaudited) 12,610 27,683 36,913 79,867 Less: Depreciation & Amortization 15,524…

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