Sees vessel operating margins should be "somewhere in the plus or minus 40% area" in the March quarter. Tidewater says market trends to rebound in June quarter. Says March quarter is expected to be burdened by a relatively heavy dry dock schedule. Says demand in recent weeks for North Sea PSVs has been unusually strong for the low season. Says continued rollover of legacy contracts has pushed average deep water day rates up. Says this is a trend the company expects to continue for at least a quarter or two. Says Angola related working capital investment should taper off in the March quarter. Comments made during the company's Q3 earnings conference call.