quote: -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced that Dahlman Rose & Company, LLC has initiated research coverage of the Company with a BUY rating and a target price of $1.50 per share.
quote:Deep Down specializes in the provision of installation management, engineering services, support services and storage management services for subsea controls, umbilicals and pipeline industries offshore. The Company also fabricates component parts for subsea distribution systems and assemblies that specialize in the development of offshore subsea fields and tie backs. These items include umbilicals, flowlines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems. Deep Down provides these services from the initial field concept phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of projects. Its products and services serve the offshore industry and are used in deep-water exploration and production of oil and gas. Deep Down is situated to serve clients both internationally and in the Gulf of Mexico.
Deep Down’s principal office is in Channelview, Texas. Deep Down presently has 49 employees, not including Mako Technologies.
quote: Deep Down generated revenue of $7,243,182 for the six months ended June 30, 2007, with cost-of-sales of $4,545,402, for a gross profit of $2,697,780, or 37.3%. Revenues for the second quarter ended June 30, 2007, were $5,144,788, up 145% from $2,098,394 in revenue reported for the three months ended March 31, 2007. Gross profit for the second quarter ended June 30, 2007, was $1,851,475, or 36.0% of revenue, up from $846,305 in gross profit, or 40.3% of revenue, reported for the three months ended March 31, 2007. The increase in revenue resulted from the inclusion of ElectroWave revenue of approximately $950,000 during the second quarter, combined with significantly increased activity from our offshore subsea business.
[u]DPDW's Company Website Camera System[/u]. (Allows investors to see what they're doing)
On September 17, 2007 Deep Down, Inc. announced that it has exchanged 2,250 shares ($2,250,000 aggregate face value) of Series E Redeemable Exchangeable Preferred Stock ("Preferred Stock") from Ron E. Smith, President and CEO of Deep Down, and Mary L. Budrunas, director of Deep Down, for 2,250,000 shares of common stock.
The Preferred Stock had a face value and liquidation preference of $1,000 per share, no dividend preference, and was exchangeable at the holder's option after June 30, 2007, into 6% subordinated notes due three years from the date of exchange.
What does this mean? They believe the share price will be well over $1.00 in the near future.
[size=150]Revenues[/size]
Deep Down generated revenue of $7,243,182 for the six months ended June 30, 2007, with cost-of-sales of $4,545,402, for a gross profit of $2,697,780, or 37.3%. Revenues for the second quarter ended June 30, 2007, were $5,144,788, [color=#FF0000]up 145%[/color] from $2,098,394 in revenue reported for the three months ended March 31, 2007. Gross profit for the second quarter ended June 30, 2007, was $1,851,475, or 36.0% of revenue, up from $846,305 in gross profit, or 40.3% of revenue, reported for the three months ended March 31, 2007. The increase in revenue resulted from the inclusion of ElectroWave revenue of approximately $950,000 during the second quarter, combined with significantly increased activity from our offshore subsea business.
[size=150]Dahlman Rose[/size]
Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced that Dahlman Rose & Company has initiated research coverage of the Company with a [color=#FF0000]BUY rating and a target price of $1.50 per share.[/color]
"In seven months since listing DPDW on the over-the-counter Bulletin Board® (OTCBB) exchange, [color=#FF0000]Deep Down's strategy of organic growth, coupled with strategic acquisitions of complementary industry service providers such as ElectroWave USA and our currently pending acquisition of Mako Technologies[/color], is gaining significant momentum," Chamberlain concluded.
-------------------- DPDW Posts: 114 | From: fruit city | Registered: Aug 2007
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posted
I told you guys..strong close, .85, HOD .90
HOUSTON, Sept. 27 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced it has delivered and installed the first of two active heave compensated in-line winch systems to Schlumberger, Inc.
ADVERTISEMENT Deep Down believes there is sufficient demand in the offshore market to support the development of a new line (Proteus(TM)) of custom-engineered active-heave compensated in-line winch systems to complement the Company's existing product and service capabilities. This equipment can be installed in-line on existing winch systems to add active heave compensation capabilities. Depending on the custom-engineered requirements of its customers, the Company expects to deliver these in-line systems at prices ranging from approximately $500,000 to $1,000,000 each. Due to proprietary and confidentiality considerations, the Company cannot disclose the price of these systems delivered to Schlumberger, Inc., nor the area of deployment.
Deep Down recently completed a project for Schlumberger, Inc. requiring the engineering and design of an intelligent control system to manage the recovery and deployment of equipment, machinery, and other payloads in subsea environments. Active heave compensation systems are installed on seagoing vessels and drilling rigs to reduce the heave, or vertical movement, that subsea payloads experience due to wave activity. They are typically used when precision well logging or drill hole monitoring operations are being performed, or for specific ROV operations. In many cases, it is critical to keep these payloads stable while the surface deployment vessel is moving vertically from large oceanic swells.
The system was designed to maintain vertical displacement of a subsea payload to within six-tenths of an inch even if the surface deployment vessel, or ship, is experiencing a heave of up to 30 feet. The control system monitors these vertical motions and compensates by releasing and retrieving the main winch to keep the payload essentially still.
"The development of our Proteus(TM) line of active heave compensated winch systems is a prime example of the opportunities that are available to us through the collaborative efforts of Deep Down and ElectroWave. We expect this collaboration to continue as we seek to meet the growing demands of our customers for solutions to challenges in ultra deepwater environments," commented Ron Smith, president of Deep Down.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http:///www.electrowaveusa.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
-------------------- DPDW Posts: 114 | From: fruit city | Registered: Aug 2007
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