b9, I think Dingmann was with MS Howells in 2005 and may be sometime after that. A call to DDI IR or DR may shed some light on the current coverage. While it was good to have DR on the coverage, I personally found it somewhat less useful to a retail investor like myself when I couldn't get my hands on their analysis etc. It was more of a warm and fuzzy that an analyst was covering this as of yet undiscovered Co, by the mainstream.
Neal Dingmann was with MS Howells & Co. 2005 and 2006 that I find. In 2007 DR releases a press item about him: DAHLMAN ROSE & CO. APPOINTS SENIOR VICE PRESIDENT, EQUITY Neal Dingmann to Focus on Oilfield Services and Exploration & Production Sectors New York (January 18, 2007) – Dahlman Rose & Co., LLC, a leading boutique investment bank specializing in marine transport, energy, natural resources and related industries, today announced the appointment of Neal Dingmann as Senior Vice President, Equity Research, focusing on the Oilfield Services and Exploration & Production sectors. Mr. Dingmann brings more than 14 years of industry experience to Dahlman Rose. http://www.dahlmanrose.com/images/customer-files/011807_DRNDingmann.pdf
Then in may of 2008 he is found asking questions for DR in this transcript: Operator
Your next question comes from Neal Dingmann.
T. Jay Collins - President, Chief Executive Officer, Director
Good morning, Neal.
Neal Dingmann - Dahlman Rose & Co.
Good morning guys. Say, two quick questions on staying with ROV, is there anything as far as... utilization obviously looked to be down just a little bit. Is that more of just transport, just sort of typical business operations in the first quarter, should we read anything into that?
T. Jay Collins - President, Chief Executive Officer, Director
I think it just relates to... we have looked and our assessment is that it just slow construction start in both the Gulf of Mexico and the North Sea and we all know the weather was pretty bad, but I'm not sure... I'm not in the construction business, I don't know what causes their projects to start and be delayed a little bit. So I think it was just a slow start in the construction market, that's our best answer.
Neal Dingmann - Dahlman Rose & Co.
Okay. So that doesn't change you thought as far as utilization or anything on sales going forward?
T. Jay Collins - President, Chief Executive Officer, Director
It's just a very short-term situation.
Neal Dingmann - Dahlman Rose & Co.
Okay.
Marvin J. Migura - Chief Financial Officer, Senior Vice President
We did say that we expect utilization for ROV fleet to be very comparable to that of 2007 for the remaining nine months of 2008.
Neal Dingmann - Dahlman Rose & Co.
Right, Okay. Perfect. And then lastly, on the Subsea products, you did mention in your... in the comments and then in the press release as far as the lower margin due to the mix and the Multiflex, we just wanted sort of... as you see going forward, how does that mix look or what type of products are you seeing in there going-forward, are you back to close to where we saw last year and then how does sort of Multiflex look this year and next year kind of on a further out [ph] basis?
T. Jay Collins - President, Chief Executive Officer, Director
I think as we go forward, we will see more... we certainly see Multiflex activity picking up as we get into the second half of the year. So I think that mix will slide a little more in their favor in the second half of the year, otherwise no significant change from on an annual basis?
Marvin J. Migura - Chief Financial Officer, Senior Vice President
I think the comment that we make where we expect margin to be slightly up year-over-year, 2008 over 2007 really is the best indicator of product mix, I mean, we explained that the first quarter of 2007 had a unusual amounts of [inaudible] activity at very high margins and that was the... really the difference. It wasn't the product mix in '08, it was the product mix in '07 that was the bigger issue because of variance. So I think, year-over-year, we expect product mix to be kind of comparable, margins up slightly with more Multiflex Umbilicals throughput.
Neal Dingmann - Dahlman Rose & Co.
Good, Thanks. Look forward to all the activities.
T. Jay Collins - President, Chief Executive Officer, Director
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