Maybe much of the revenue from the 2nd carousel was booked in the 3rd qtr. I don't think the issue with 4th qtr numbers was cogs and it's unlikely that they can get their sga down much more. They mentioned in November that they had outstanding bids for several more carousels but to date nothing has been press released. Could be just around the corner though.
What do you feel will be the catalyst to a 3-5 bagger over the next 3-6 months? EPS growth or a big contract? Seems like permits are being approved again in the GOM and more deep sea projects all over the world.
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