Cal Dive Announces 2005 Earnings Guidance
2004年12月22日 - 7:00AM
PRニュース・ワイアー (英語)
Cal Dive Announces 2005 Earnings Guidance HOUSTON, Dec. 21
/PRNewswire-FirstCall/ -- Cal Dive International, Inc.
(NASDAQ:CDIS) today announced 2005 earnings guidance in a range of
$2.00 to $2.70 per diluted share. The company expects, as in 2004,
a majority of 2005 earnings will occur in the third and fourth
quarters. Owen Kratz, Chairman and Chief Executive Officer, stated,
"This guidance is a natural result of the CDI budgeting process and
risk management approach. It represents an attempt to provide
transparency into the thought process of CDI management. Our budget
is produced between September and December and thus guidance will
be issued only once each year at the beginning of the year.
Quarterly conference calls will focus upon a discussion of the
accompanying key variables (see attached list) plus any new issues
not foreseen. It is management's view that quarterly earnings
variances are too often a result of timing differences and thus
there will be no attempt to provide quarterly guidance." Mr. Kratz
continued, "It is noteworthy that the mid-point of the 2005 range
is 57% higher than the same point in the 2004 guidance. This shows
that management expects to deliver significant growth from our
unique production contracting based business model." Cal Dive
International, Inc., headquartered in Houston, Texas, is an energy
service company which provides alternate solutions to the oil and
gas industry worldwide for marginal field development, alternative
development plans, field life extension and abandonment, with
service lines including marine diving services, robotics, well
operations, facilities ownership and oil and gas production. This
press release and attached presentation contain forward-looking
statements that involve risks, uncertainties and assumptions that
could cause our results to differ materially from those expressed
or implied by such forward-looking statements. All statements,
other than statements of historical fact, are statements that could
be deemed "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including,
without limitation, any projections of revenue, gross margin,
expenses, earnings or losses from operations, or other financial
items; any statements of the plans, strategies and objectives of
management for future operations; any statement concerning
developments, performance or industry rankings relating to
services; any statements regarding future economic conditions or
performance; any statements of expectation or belief; and any
statements of assumptions underlying any of the foregoing. The
risks, uncertainties and assumptions referred to above include the
performance of contracts by suppliers, customers and partners;
employee management issues; as described from time to time in our
reports filed with the Securities and Exchange Commission,
including the Company's Annual Report on Form 10-K for the year
ending December 31, 2003. We assume no obligation and do not intend
to update these forward-looking statements. Key Variables Marine
Contracting: Revenues of $300 - 330 million with margins of 13% -
15% -- Market Demand: Rates & Utilization -- Project
Performance/Risk Mitigation -- Fleet Disposition: Geographic
Expansion -- Downtime: R&M, Drydock Costs/Weather Delays --
ROV: Volume of Trenching Work -- Well Ops UK: Norway/P&A
Activity Oil & Gas: Production of 40 to 45 BCFe with a Price
Deck of $37.00/bbl oil and $5.00/mcf gas -- Commodity Prices --
Production Rate -- Production Efficiency (LOE) -- Hedging Impact --
Success of Well Exploitation Program -- PUD and Mature Property
Acquisitions -- DD&A Rate Production Facilities: Equity in
Deepwater Gateway Earnings of $22 - 27 million -- Marco Polo
Facility: Production Rate from Marco Polo Reservoir -- New Wells:
Commencement of Production from K2 /K2 North -- Acquisitions:
Timing and Terms Corporate: SG&A at 9% to 10% of Revenues --
Insurance: Renewal Terms and Aggregate Deductibles Incurred --
Collection of Receivables -- Regulatory Compliance -- Foreign
Currency Exchange -- Interest Rates -- Effective Tax Rate (36%) --
Commercial Dispute Resolution -- Average Shares Outstanding: 40 -
41 million DATASOURCE: Cal Dive International, Inc. CONTACT: Wade
Pursell, Chief Financial Officer of Cal Dive International, Inc.,
+1-281-618-0400, or fax, +1-281-618-0505 Web site:
http://www.caldive.com/
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