brikk, excellent work and thanks for sharing with the board.
I like the fact that these LARS can be put together so quickly - 10 to 30 days would seem to be very quick to me and for a customer in need where competitors are quoting 2 years, it should be a godsend. Also good to know that their capacity is good and can be ramped up if necessary.
Q: what is typical product lead time for the deep water LARS? how do you see this changing as more are built?
A: it's hard to say because each one is customized. lots of steel is used, cut and fabbed, other items are components that may require special ordering. but a single unit can be assembled in a 10 to 30 day time frame if all parts are available.
Also with that timeframe the potential to sell a "bunch" of these is good:
Q: how would you describe the market for the new LARS?
A: we see a huge potential market as more companies involved in offshore operations put ROVs on their vessels. we feel we are perfectly positioned to benefit from this trend and it also dovetails directly into the mako technologies acquisition.***
I think this is the clincher for me:
Q: generally speaking, what are margins like on the LARS, the proteus AHC winch, etc.?
A: state-of-the-art, leading edge equipment that can be delivered faster than the competition allow for higher margins. DPDW's objective is to provide products across the board that fit all those characteristics. we don't want to make commodity type products, only ones that are advantaged in terms of the technology they offer. this is how margins stay high and customers stay happy.
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