Cal Dive International Inc (NYSE:DVR) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Cal Dive International Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.19 in the quarter versus EPS of $-0.25 in the year-earlier quarter.
Revenue: Rose 34.82% to $80.92 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cal Dive International Inc reported adjusted EPS loss of $0.19 per share. By that measure, the company missed the mean analyst estimate of $-0.18. It missed the average revenue estimate of $85.48 million.
Quoting Management: Cal Dive’s Chairman, President and Chief Executive Officer, Quinn Hébert, stated, “Although first quarter results were generally in line with our revised expectations, we were disappointed with how the market unfolded during the winter season in the Gulf of Mexico. Also, the loss on a lump sum project in Australia was an unexpected strain on the quarter.”
Key Stats (on next page)…