Cal Dive International, Inc (NYSE:DVR)’s Stock News

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Dallas, Texas 03/27/2014 (FINANCIALSTRENDS) –  Cal Dive International, Inc (NYSE:DVR) is a marine contractor and provides manned-diving, pipe lay & pipe-burial services. The company recently reported that its loss has narrowed in its Q4 of the financial year 2013. Cal Dive International, Inc (NYSE:DVR) has reported a loss of $0.52M or $0.01/ share in comparison to the loss of $19.09 million/ $0.21 a share, in the previous year. On an average, analysts had projected profit of $0.02/ share for its latest quarter. Revenues for this quarter rose 9.16% to $159.81 million from the $146.4 million in the previous year.

In the quarter, the gross margin contracted by 32 basis-points over the earlier year period to 6.57%. Cal Dive International, Inc (NYSE:DVR) disclosed operating-loss of $0.94 million in comparison to the operating loss of $9.15M in the previous year period. EBITDA for that quarter stood at 17.05M which was an increase of 26 percent from the $13.53 million in the previous year period. EBITDA margin has now improved 143 basis-points over the previous year period to 10.67% from 9.24% in the last year period.

Quinn Hebert, the chairman, President and the Chief Executive Officer of Cal Dive International, Inc (NYSE:DVR), said that the company’s Q4 was its best in the entire year as there was a ramp-up in its offshore work in the Mexican region. He added that looking forward, they expect a much more improved performance in the next 2 quarters in comparison to the 1st half of the last year, mainly attributed to the activity that is related to the company’s Pemex contracts as there was very less activity in Mexico at the same time of last year. He also said that Cal Dive International, Inc (NYSE:DVR) continues to focus on global growth as they continue bidding on new projects in the Mexican region in 2014.

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