Cal Dive plunges to 52-week lows after posting Q2 loss

|About: Cal Dive International, Inc. (DVR)|By:, SA News Editor

Cal Dive International (DVR -27.8%) plunges to 52-week lows before rebounding slightly, after reporting a Q2 loss of $0.31/share and saying results were significantly hurt by unseasonably adverse weather that delayed completion of two of its four Mexico projects.

Included in the Q2 loss was a $6.2M after-tax charge for the provision of doubtful accounts related to a receivable owed by a contractor in Mexico that became subject to bankruptcy proceedings in July.

DVR also said its board authorized management to explore a broad range of strategic alternatives to enhance stockholder value.