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Lintoid

 
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  • Apple Earnings And Guidance - Why I Think It Will Beat Analysts' Estimates [View article]
    AAPL short squeeze coming up !
    Oct 17 08:54 PM | 3 Likes Like |Link to Comment
  • Plunging The Depths Of Cal Dive's Earnings [View article]
    That's a good point -- whether Cal Dive is applying "accrual accounting" or "cash accounting" for that large 30% chunk (~$90M) of Q4 Pemex work that was not collected on.

    Since the CFO indicated that these are milestone-based collections that applied, I think that indicates that no prior (Q4) "accrual accounting" could have been done, because the corresponding requisite milestone had not been met. He said that the "$100M in unbilled" was an "issue of timing" -- I don't see why he would be talking about deferred collections if they had no impact on the reported revenue numbers. Finally, it seems the reported Q4 revenue number would be far larger if it had included that large chunk of uncollected revenue.

    If anyone has a better understanding of this, please chime in.
    Apr 4 10:08 PM | 2 Likes Like |Link to Comment
  • Amazon: Serious Security Flaw In The Kindle Fire [View article]
    "... potentially bankrupting the owner." -- isn't that a bit hysterical ?

    If a stranger gets a hold of my Kindle, I'm more worried that he has stolen my *Kindle* than that he will order a bunch of stuff on it. Any physical orders would have to go to my address to be 1-click; and any digital orders would easily be reversed by Amazon.
    Nov 20 03:50 PM | 2 Likes Like |Link to Comment
  • Cal Dive International, Inc.: A Lesson In Value Investing [View article]
    It's supposed to be a light hurricane season in the Atlantic this year -- which (in the short term anyway) is a plus for Cal Dive in terms of asset utilization and working through its existing backlog.

    Very much looking forward to Q2 earnings following bullish comments from the CEO at their recent asset sale.
    Jun 9 01:03 PM | 1 Like Like |Link to Comment
  • Cal Dive International, Inc.: A Lesson In Value Investing [View article]
    The latest on the Cape Wind wind farm project off Nantucket is that it very much IS underway -- with major legal blocks recently dismissed.

    However Cal Dive's former status as "preferred contractor" was lost in the delays (details on how the relationship was dissolved are unclear). If Cal Dive were re-instated to the project, it would be for the platform construction in 2015; and the revenue would be substantial.

    There was no mention of Cape Wind in the recent DVR conf calls. Cape Wind is one of several *possible* big pieces of good news that could materialize near term for Cal Dive.
    Jun 6 09:51 AM | 1 Like Like |Link to Comment
  • Plunging The Depths Of Cal Dive's Earnings [View article]
    If you do a search on "Levi & Korsinsky", you'll see dozens of these "shareholder alerts", fishing for class action lawsuits around unspecified "breaches of fiduciary duty". Notably, many of the subjects are targets of a rumored buyout -- so this is intriguing more than it is troubling. We should get clarity in the next earnings call.

    I left a message with the law firm this morning and have not heard back.
    Apr 9 07:58 PM | 1 Like Like |Link to Comment
  • 5 High-Growth Technology Stocks Armed With High Cash Reserves [View article]
    Should mention that Kopin (KOPN) controls many patents relating to wearable screens, which is poised to be a major consumer trend. They are also shipping an industrial wearable screen this year with Motorola, dubbed the Golden-I.
    Jul 22 02:36 AM | 1 Like Like |Link to Comment
  • Cal Dive International, Inc.: A Lesson In Value Investing [View article]
    You weren't wrong, Bricho -- you were right all along; you just didn't take your own advice.

    What's irking me is how can a company with $500M in revenue be in the red for so long. Have they been underbidding the major contracts? What the CEO said about "unseasonably bad weather" is BS (and a quarterly refrain from them).
    Aug 13 10:06 AM | Likes Like |Link to Comment
  • Cal Dive International, Inc.: A Lesson In Value Investing [View article]

    A couple glimmers of light after horrible Q2 loss reported today:

    CEO indicated that Q3 EBITDA would be positive. Analysts concur.
    "All options on table" wrt raising shareholder value; good to hear given DVR is at 1/3 book.
    Backlog, bidding prospects, etc, still relatively positive.
    Aug 11 01:54 PM | Likes Like |Link to Comment
  • Cal Dive International, Inc.: A Lesson In Value Investing [View article]
    You're assuming that "voluntarily resigned" means that he resigned voluntarily.
    Jun 18 08:26 PM | Likes Like |Link to Comment
  • Cal Dive International, Inc.: A Lesson In Value Investing [View article]
    So write 4 more, please. ;-)

    The market has barely *begun* to realize DVR's value proposition.

    DVR still trades way below book value; despite rising prospects in the Gulf.
    In addition, several things under the radar:
    + huge LNG shallow water build-out in Australia
    + possible renewed role in Cape Wind
    + pending lawsuit against BP (for lost business due to Macondo)
    + backlog; and upcoming milestone-driven collections
    + bookings through end of year
    + ship leases to third parties
    + sale of non-core assets (which also confirm higher book value)
    + non-linear dynamics of return to profitability
    + undervalued goodwill
    + ...

    Jun 10 04:32 PM | Likes Like |Link to Comment
  • Cal Dive Still Waiting For That Offshore Recovery [View article]
    Thanks for your comment. Not just the debt load -- but the interest rates on the 2 major tranches of new debt are eye-raising.

    So I don't disagree with you. However I'll just point out that only 44% of the Pemex contracts have been collected on -- much of it for work that was already completed. The remaining amount to be collected over the next 2 quarters goes well into the 9 figures -- so if that is applied against debt, then it negates much (most?) of the debt and ameliorates the situation considerably.

    Does anyone else think that the ships may have been depreciated excessively (for tax purposes)? If so, that's a plus for real book value.
    May 12 04:44 PM | Likes Like |Link to Comment
  • Cal Dive Still Waiting For That Offshore Recovery [View article]
    The loss was entirely due to depreciation. EBITDA was positive.
    I don't see a collapse in capital structure, because upcoming large collections from PEMEX will be applied against debt.

    Earnings call was very upbeat about Gulf of Mexico recovery and near-term prospects in general, as we enter the more active summer months.

    I bought in more at today's bottom. Sit tight, everyone.
    May 9 07:34 PM | Likes Like |Link to Comment
  • Cal Dive Still Waiting For That Offshore Recovery [View article]
    We just found out about this -- so no one is pinning their hopes on the case.

    The case certainly does have merit. Most likely it will be settled. Even if that settlement is years off, the prospect of a likely settlement is an asset for Cal Dive. And this sort of make-it-go-away settlement often happens in the context of an acquisition.

    This case is just another positive datapoint. I'll post if I'm able to get any details from the court. Most likely it's in some extended bs discovery phase. I'm still surprised we've heard nothing about it in the annual report.
    Apr 22 04:19 PM | Likes Like |Link to Comment
  • Cal Dive Still Waiting For That Offshore Recovery [View article]
    Does anyone know the status of Cal Dive's lawsuit against BP; or any details?
    I just found out about this. Why wasn't this in DVR's annual report?

    Cal Dive is suing BP/Transocean/Triton/H... for lost business due to the Macondo spill.

    The court (in Louisiana) doesn't have a searchable schedule.

    case: "Cal Dive International, Inc. v. BP Exploration & Production, Inc. et al"
    filed: 4/2013
    case #: 2:2013-cv-00709
    http://bit.ly/1jvRWh4
    Apr 22 01:00 PM | Likes Like |Link to Comment
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