* Q1 shr loss $0.20 est loss of $0.06/shr
* Q1 rev down 72 pct, misses est
* Sees challenging conditions for rest of the yr
* Shares down 3 pct in after-market trade
April 28 Offshore energy services company Cal
Dive International Inc DVR.N reported a wider-than-expected
quarterly loss hurt by a dip in vessel utilization and day
rates, and warned that 2010 would remain challenging.
"While we are beginning to see some signs of recovery in
the market, we still expect challenging market conditions for
the remainder of 2010 compared to 2009," Chief Executive, Quinn
The company posted a first quarter loss of $19.1 million,
or 20 cents a share, compared with earnings of $12.3 million,
or 12 cents a share, last year.
Revenue slumped 72 percent to $57.4 million, as Cal Dive's
customers cut back on spending for its offshore services.
Analysts on average were looking for a loss of 6 cents a
share, on revenue of about $116.8 million, according to Thomson
Cal Dive shares were down 3 percent at $7.35 in
after-market trade, after having closed at $7.58 Wednesday on
the New York Stock Exchange.
The stock is so far down over 30 percent from an August
(Reporting by Adveith Nair in Bangalore; Editing by Savio