Welcome to the board! DPDW had some tumbles along the way of becoming a public company and the shareprice collapsed when the O&G sector faltered during the financial meltdown and again with the Macondo/BP disaster.
DDI suffered some big losses during that period as it had just acquired Flotation Technologies. Still in the wake of that, in what I view as a last-ditch effort to realize a profit from the FT deal, they entered into a J/V with a financial backer (York) to merge FT with Cuming Corp to create the "premier American supplier of subsea flotation products". However, instead of being a longer term partner in the J/V, York flipped the purchase for a quick profit.
Meanwhile the core services and products of DDI have been growing and as a poster (who I suspect was a former employee) let slip, "has been a cash cow for the unprofitable business units for some time".
The upside you see is real. The risk, IMO, is that they will enter into unprofitable ventures at a larger scale than they can afford. I think that risk is tempered considerably as evidenced by the communications from the company on that topic.
The upside beyond the metrics and fundamentals currently in hand, again IMO, is that the patented products gain a significant foothold in the suite of subsea products being utilized in ultra-deep O&G. In short, if you can avoid the HUGE cost (and long lead time) of spinning a helical umbilical for at least a portion of your subsea architecture, why wouldn't you??
As soon as they land a big contract for NHUs, we're off like a rocket! Meanwhile, if they can keep plugging at profits and growth, DPDW will continue to trade upward as confidence builds.
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