Cal Dive Expects First Quarter Earnings to Exceed Estimates

Apr 04, 2001, 01:00 ET from Cal Dive International, Inc.

    HOUSTON, April 4 /PRNewswire/ --
 Cal Dive International, Inc. (Nasdaq:   CDIS) today said that it expects diluted
 earnings per share for the quarter ended March 31, 2001, will be between
 30 cents and 34 cents.  The Company had estimated that first quarter earnings
 per share would be in a range from 18 to 22 cents; analysts who cover the
 Company's stock have published earnings estimates which currently average
 21 cents for the quarter.
     Vice Chairman Jim Nelson stated, "Marine construction activity on the
 Outer Continental Shelf is more active than expected and weather has been
 reasonably good.  In addition, our gas production volumes were stronger than
 initial forecasts.  This should result in an all-time record for CDI quarterly
 earnings in what historically is the slowest period of the year."
     Cal Dive International, Inc., headquartered in Houston, TX, is an energy
 service company specializing in well operations and subsea construction.  CDI
 operates a fleet of technically advanced marine construction vessels and
 conducts salvage operations in the Gulf of Mexico.  Energy Resource
 Technology, Inc., a wholly owned subsidiary, acquires and operates mature and
 non-core offshore oil and gas properties.
     Certain statements in this press release are "forward-looking statements"
 within the meaning of the Private Securities Litigation Reform Act of 1995.
 Forward-looking statements are not statements of historical fact and such
 statements are not guarantees of future performance or events and involve
 risks and assumptions that could cause actual results to vary materially from
 those predicted, including among other things, unexpected delays and
 operational issues associated with turnkey projects, the price of crude oil
 and natural gas, weather conditions in offshore markets, changes in site
 conditions, and capital expenditures by customers.  The Company strongly
 encourages readers to note that some or all of the assumptions upon which such
 forward-looking statements are based are beyond the Company's ability to
 control or estimate precisely and may in some cases be subject to rapid and
 material change.
 
 

SOURCE Cal Dive International, Inc.
    HOUSTON, April 4 /PRNewswire/ --
 Cal Dive International, Inc. (Nasdaq:   CDIS) today said that it expects diluted
 earnings per share for the quarter ended March 31, 2001, will be between
 30 cents and 34 cents.  The Company had estimated that first quarter earnings
 per share would be in a range from 18 to 22 cents; analysts who cover the
 Company's stock have published earnings estimates which currently average
 21 cents for the quarter.
     Vice Chairman Jim Nelson stated, "Marine construction activity on the
 Outer Continental Shelf is more active than expected and weather has been
 reasonably good.  In addition, our gas production volumes were stronger than
 initial forecasts.  This should result in an all-time record for CDI quarterly
 earnings in what historically is the slowest period of the year."
     Cal Dive International, Inc., headquartered in Houston, TX, is an energy
 service company specializing in well operations and subsea construction.  CDI
 operates a fleet of technically advanced marine construction vessels and
 conducts salvage operations in the Gulf of Mexico.  Energy Resource
 Technology, Inc., a wholly owned subsidiary, acquires and operates mature and
 non-core offshore oil and gas properties.
     Certain statements in this press release are "forward-looking statements"
 within the meaning of the Private Securities Litigation Reform Act of 1995.
 Forward-looking statements are not statements of historical fact and such
 statements are not guarantees of future performance or events and involve
 risks and assumptions that could cause actual results to vary materially from
 those predicted, including among other things, unexpected delays and
 operational issues associated with turnkey projects, the price of crude oil
 and natural gas, weather conditions in offshore markets, changes in site
 conditions, and capital expenditures by customers.  The Company strongly
 encourages readers to note that some or all of the assumptions upon which such
 forward-looking statements are based are beyond the Company's ability to
 control or estimate precisely and may in some cases be subject to rapid and
 material change.
 
 SOURCE  Cal Dive International, Inc.