% | $
Quotes you view appear here for quick access.

DVR Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • win2few win2few Dec 18, 2011 3:37 PM Flag

    What the !$@?

    well, you would think that would happen ... except management keeps coming up with writedowns on assets ... $300mil a little over a year ago and $38mil in this past quarter - altho they did state in the last writedown that no more were expected in the near future .. that being the case the improved outlook in the GOM, their backlog, and available equipment.. the stars might be aligned for 2012 profit... if so, this stock will be at $5+ before the end of 2012.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Analysts estimates for 2012 anywhere from .15 to .40. I think we can throw out the .40 as wildly optimistic but break-even to .15 looks possible. That gives them some breathing room and time to benefit from the improvement in the gom. They have cut overhead expenses and the lower dry-docking expense in 2012 will certainly help. There certainly hasn't been anything in their Calls that has been other than very mild optimism but hopefully that is a Case of keeping expectations low.

      I did hear in a recent presentation the CEO say they are growth oriented and that we would see them be acquisitive over the next two years. Completely idiotic statement given they can't acquire anything under their current debt deal and shouldn't acquire anything until they can at least show they can improve their financial mgmt of the company.

      Nonetheless, If they can get their ebitda up and take the debt covenant issues off the table I can see a move to $4. I think the whole oil services sector will need to improve to get it any higher.

      After listening to several earnings calls and conference presentations along with watching the complete mismanagement of their debt covenants I have to say the mgmt is pretty unimpressive. Perhaps there is more to these guys that im missing.

      • 1 Reply to rsparker23
      • thanks for your input ... management, particularly Herbert, are hard to like and trust -- considering their track record since the Helix spinoff, and now Helix's board rep has stepped down ... I could have got out in the $$ before pps tanked this year, but choose to stay in because I thought they were crawling out of the hole - yet here's this new $38mil writeoff in this past quarter -- GOM should provide good business for DVR in 2012 though ...