Deep Down Inc. - Aktie des Tages!!
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In reply to: None Post # of 72118
hello all,would be great to hear that Electrowave was awarded one of the four last bids for a government contract.
just dropping by with some weekend DD for all of you, how are all the longs.
Electrowave bids for Coast Guard:
http://www.fedvendor.com/vendor_directory/...e=1&fkeyword=electrowave
Flotation Technologies bids:
http://www.fedvendor.com/vendor_directory/...d=flotation+technologies
USCGC MACKINAW - MACHINERY PLANT CONTROL AND MONITORING SYSTEM SUPPORT AND SERVICES
https://www.fbo.gov/...de28d9bccb7ea6&tab=core&_cview=1&cck=1&au=&ck=
happy reading :)
what we tend to focus on every day are the cameras around the facility, but here's an example of DPDW's service and installation side of the business. i think you'll all really appreciate seeing these dramatic photos.
Mobile -- Equ. Guinea:
ICCP Sled Project Status Show # 1
http://www.keepandshare.com/doc/view.php?id=552917&da=y
ICCP Sled Project Status Show # 2
http://www.keepandshare.com/doc/view.php?id=552918&da=y
ICCP Sled Project Status Show # 3
http://www.keepandshare.com/doc/view.php?id=552919&da=y
ICCP Sled Project Status Show # 4
http://www.keepandshare.com/doc/view.php?id=552920&da=y
thanks to bud_fox for uploading them... enjoy...
:)
Posted by: brikk Date: Monday, July 21, 2008 9:22:59 PM
In reply to: fazoolius who wrote msg# 72229 Post # of 72256
lots of hedge funds on that list. they aren't as well documented on the web as mutual funds and individuals, but it's impressive what large positions have been taken by most of them. good stuff. :)
and best of all -- imo none of them are in for a few %.... they're holding for multibagger gains....
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DPDW Board, Week ending 8-02-08 News & Views. Deep Down Inc.
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DPDW Board, Week ending 8-08-08 News & Views. Deep Down Inc.
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Aug 20, 2008 9:00:00 AM
View Additional ProfilesHOUSTON, Aug. 20 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) announced unaudited results on August 15, 2008, for the three months and six months ended June 30, 2008, on Form 10-Q filed with the U.S. Securities and Exchange Commission.
Deep Down generated revenue of $14.2 million for the six months ended June 30, 2008 compared to $7.2 million for the same period last year, an increase of $7.0 million, or 96%. Our acquisitions accounted for $5.1 million of this increase. Mako was included for the entire period and accounted for $2.7 million of the increase. Flotation Technologies was included for two months and accounted for $1.5 million of the increase. ElectroWave was included for six months and accounted for $0.9 million of the increase, but the six month period in 2007 included only three months revenue for ElectroWave since it was acquired in April 2007. Our existing businesses continued to strengthen with increased revenues of $1.9 million, or 29%, over last year's six month period. Contract revenues were up 25%, and rentals were up 47%. Our offshore market continues to be strong as we continue to expand our customer base.
Deep Down generated revenues of $7.9 million for the three months ended June 30, 2008 compared to $5.1 million for the same period last year, an increase of $2.8 million, or 54%. Our acquisitions represented $3.0 million of the increase in revenue in addition to a slight revenue decrease in the core business of $0.2 million. This slight decrease in revenue was a result of certain customers delaying scheduled projects.
Gross margin for the six months ended June 30, 2008 was $4.8 million compared to $2.7 million in the same prior year period, an increase of $2.1 million, or 79%. $1.4 million of the increase is attributable to the inclusion of the acquisitions in this period. The overall gross margin was 34 % for the first six months of 2008 as compared to 37% for the same period last year. The gross margin is slightly lower due to an increase in personnel.
SG&A for the six months ended June 30, 2008, was $5.4 million compared to $1.8 million for the same period last year, an increase of $3.6 million, or 209%. The acquisitions of Mako and Flotation represented $1.5 million of the increase. Bad debt expense increased by $0.8 million due to the write-off of two accounts, one of which filed for bankruptcy protection during the quarter ($0.2 million of the total bad debt is included in the Mako subsidiary). Personnel and related costs increased by $1.0 million primarily due to an expansion of our businesses, combined with the related costs of administering a public company and complying with reporting requirements. Additionally, we paid approximately $0.7 million in professional, accounting, and legal fees to support our various initiatives during the six months ended June 30, 2008, including the filing of a registration statement, acquisitions and reporting requirements. Stock based compensation related to employee stock options and restricted stock was approximately $0.3 million in the current fiscal year compared to approximately $40,000 for the comparable prior year period.
Operating loss for the six months ended June 30, 2008, was $1.5 million compared to operating income of $0.8 million for the same prior year period. Net loss for the six months ended June 30, 2008, was $5.0 million compared to net income of $0.8 million for the same prior period. Income was impacted by one-time interest expense and loss on debt extinguishment expenses totaling $2.6 million related to the early payoff of our secured credit agreement (the "Credit Agreement"). Earnings before interest, taxes, depreciation, amortization and other non-cash charges ("EBITDA") for the six months ended June 30, 2008, was $0.5 million, compared to $1.0 million, a decrease of $0.5 million over the same prior year period.
Interest expense for the six months ended June 30, 2008, was $3.5 million compared to $1.5 million for the same prior year period. In connection with the early payoff of the Credit Agreement, Deep Down accelerated the remaining deferred financing costs totaling $0.7 million and recorded this charge to interest expense. Additionally, $1.5 million in debt discounts were accelerated and recorded to interest expense, along with early termination fees of approximately $0.5 million. Deep Down paid cash interest related to the Credit Agreement totaling $0.8 million for the six months ended June 30, 2008. For the comparable period last year, $1.4 million of the total interest was related to accretion on the redemption of Series G and Series E Preferred Stock.
"I am pleased to report this quarter that Deep Down continues to improve its financial position. The Company is now essentially debt free and has retired all of its remaining preferred shares. Liquidity is strong with unrestricted cash and equivalents of $4.1 million and a current ratio of 3.8. Our working capital position is $10.8 million. Stockholders' equity has improved dramatically and is now $52.9 million compared to $12.6 million on December 31, 2007. We remain excited and optimistic about the prospects for continued revenue growth and a return to profitability," commented Robert E. Chamberlain, Jr., Deep Down's Chairman.
About Deep Down, Inc.
DPDW Board, Week ending 8-23-08 News & Views. Deep Down Inc.
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Date : 08/25/2008 @ 2:38PM
Source : PR Newswire
Stock : (DPDW)
Quote : 0.678 0.008 (1.19%) @ 2:51PM
Deep Down Expands ROV Staff Through Mako Technologies
HOUSTON, Aug. 25 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC:DPDW) (BULLETIN BOARD: DPDW) today announced that its wholly-owned subsidiary, Mako Technologies, LLC (Mako) has appointed Bryce Merrill to the position of Director of Subsea Services. Merrill brings over 40 years of experience and relationships in the subsea industry to Mako; 17 years as a diver and 25 years with Remote Operated Vehicles (ROVs).
Before joining Mako, Merrill served on various projects for BP, Chevron, Petrobras, Shell and Total. During his tenure at Oceaneering International, Inc., he served as ROV supervisor for the Petrobras Pacnorse project, where he was responsible for operation of the Arms Bell onboard the drillship, which at the time set a new world depth record with a dive to 3032 feet. Merrill has significant experience designing and building specialty tools used in subsea operations. Merrill also held various office positions as Audit Manager, Recruiting Manager and Operations Manager.
"Bryce Merrill has an extensive background in subsea services. He is well respected in the industry, and we are very pleased to have him join Mako where we believe he will have significant impact on our ROV operations," commented Jacob Marcell, Mako's president.
"The hiring of Mr. Merrill is a very important milestone for Deep Down in its plans to develop a significant presence in the market for ROV services in offshore and deepwater applications, one of three primary targeted areas of growth for the company. The other two primary areas of focus are drilling riser buoyancy through its wholly-owned subsidiary, Flotation Technologies and umbilicals and steel flying leads through its wholly-owned subsidiary Deep Down," said Robert E. Chamberlain, Jr., Deep Down's Chairman and CAO.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and recovery systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. For further company information, please visit http://www.deepdowninc.com/ or call Ron Smith at 281-862-2201.
The Company's ElectroWave USA subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. For further company information, please visit http://www.electrowaveusa.com/ or call Greg Boucher at 713-896-7799.
The Company's Mako Technologies subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys. For further company information, please visit http://www.makotechnologies.com/ or call Jacob Marcell at 985-385-7817.
Flotation Technologies engineers, designs and manufactures deepwater buoyancy systems using high-strength Flotec(TM) syntactic foam and polyurethane elastomers. Flotation's product offerings include distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyance modules, CoreTec(TM) drilling riser buoyancy modules, ROVits(TM) buoyancy, Hydro-Float mooring buoys, Stablemoor(TM) low-drag ADCP deployment solution, Quick-Loc(TM) cable floats, Hardball(TM) umbilical floats, Flotec(TM) cable and pipeline protection, Inflex(TM) polymer bend restrictors, and installation buoyancy of any size and depth rating. For further company information, please visit http://www.flotec.com/ or call David Capotosto at 207-282-7749.
The Company's strategy is to become a leading provider of products and services to the offshore industry, including shallow, deep, and ultra-deep water applications in oil and gas exploration, development and production activities, and maritime operations. Management plans to achieve this strategy through organic growth and strategic acquisitions of complementary businesses with technological advantages in deepwater environments.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
DATASOURCE: Deep Down, Inc.
CONTACT: Steven Haag, Investor Relations of Deep Down, Inc.,
+1-281-862-2201, fax, +1-281-862-2522,
Web site: http://www.deepdowninc.com/
http://www.makotechnologies.com/
http://www.electrowaveusa.com/
http://www.flotec.com/
User: DDI
Pass: ddi6only
12:51p ET September 8, 2008 (Business Wire)
Flotation Technologies, Inc., a Deep Down Inc. company and a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer systems, today announced it will showcase its deepwater expertise and products at the Rio Oil & Gas Expo 2008, Sept. 15 -- 18, in Rio de Janeiro, Brazil. The company, with proven innovative solutions, brings engineering ingenuity and capacity as Brazil experiences continued challenges in exploration and production.
"For nearly 30 years, Flotation Technologies has been one of the industry's foremost leaders in the engineering and design of innovative subsea products," stated David Capotosto, president, Flotation Technologies. "With this breadth of experience, Flotation Technologies is committed to providing both Petrobras and the greater Brazilian offshore oil market with the appropriate solutions to the unique deepwater challenges it is currently facing."
"Brazil's offshore oil market has seen monumental growth over the last several years," explained Fred Maguire, sales and marketing manager. "We are excited to showcase our experience and capabilities, and are primed to offer the market deepwater custom engineered solutions covering exploration through production as well as industry tested and trusted products to meet the specific needs of the Brazilian offshore oil industry."
For more information, please visit Flotation Technologies at Booth 3-0.
About Rio Oil & Gas Expo
A leading oil and gas industry event in Latin America, Rio Oil & Gas Expo and Conference, takes place at Riocentro Convention Center in Rio de Janeiro every two years. Since its first edition in 1982, both the Exhibition and the Conference have contributed to build Rio de Janeiro's reputation of being the "Brazilian oil capital." The Expo is an outstanding opportunity for national and foreign companies to display their products and services. Similarly, the Conference stands as a prominent place for networking, discussing major technological issues and promoting innovative ideas. For more information, please visit ibp.org.br/main.
About Flotation Technologies, Inc.
Flotation Technologies, Inc., based in Biddeford, Maine, and a wholly-owned subsidiary of Deep Down Inc., (OTCBB:DPDW), is a world leader in the engineering, design and manufacturing of deepwater buoyancy systems using high-strength Flotec(TM) syntactic foams and polyurethane elastomers. Focused on the offshore oil, oceanographic, seismic and government markets, Flotation Technologies delivers world-class buoyancy products for a host of marine applications such as: distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyancy modules, ROV buoyancy, QuickLoc(TM) cable floats, Hardball(TM) umbilical floats, FLOTECT(TM) cable and pipeline protection, Inflex(TM) polymer bend restrictors and installation buoyancy of any size and depth rating. For more information, visit flotec.com.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys. For more information, visit deepdowninc.com, electrowaveusa.com and makotechnologies.com.
Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, acquisitions, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. All of the information provided in this release is as of September 8, 2008 and Flotation Technologies, Inc. undertakes no duty to update the information provided herein.
SOURCE: Flotation Technologies, Inc.
McClain Marketing Group Stephanie O'Brien, PR Specialist, (207) 761-8372 ext: 207 sobrien@mcclainmarketing.com