Just felt like posting something and thought this was note worthy.
"Revenues increased $13,661, or 47.4 percent, to $42,471 for the year ended December 31, 2010 from $28,810 for the previous year. The increase in revenues was due primarily to generally higher demand for our services and products, especially in the GOM and West Africa, leading to higher utilization of our personnel, equipment and ROVs, increased equipment and tooling rentals, greater output of engineered subsea projects (including installation support services) and increased manufacture of products for deepwater and ultra-deepwater projects."
"Revenues for the year ended December 31, 2011 were $27,441. Revenues for the year ended December 31, 2010 were $42,471, and included $10,953 related to the Flotation operating segment, which was contributed to the CFT joint venture effective December 31, 2010. Excluding the 2010 revenues related to the Flotation operating segment, revenues decreased $4,077, or 13 percent, from the year ended December 31, 2010 compared to the year ended December 31, 2011. The decrease in revenues was almost entirely attributed to lower utilization of our ROV services and topside rental equipment in 2011. We enjoyed an unusually robust year in 2010 as a result of services and equipment we provided associated with the cleanup effort of the Maconda well in the Gulf of Mexico, which was required as a result of the Deepwater Horizon incident."
"Revenues for the year ended December 31, 2012 were $29,034. Revenues for the year ended December 31, 2011 were $27,441. The $1,593 increase in revenues in the 2012 period was due to an increase of $6,226 in our subsea solutions services due to continued strong demand for our technologically innovative solutions, offset by a decrease of $4,633 in our ROV and topside equipment rental services due to decreased demand."
Q2-2012- "We continue to be disappointed with the performance of our ROV and topside equipment rental business, and as a result we are exploring various options for returning this portion of our business to profitability.”
Q3-2012- "On August 27, 2012, we announced that we had consolidated the operations of our ROV and topside equipment rental business as part of our ongoing cost containment program. All of the assets and operations previously located in Morgan City, Louisiana are now operating out of our Channelview, Texas facility. We were able to reduce our total workforce by 10% and expect to recognize additional cost savings during the remainder of 2012 and beyond."
AI
