HOUSTON, Sept. 07, 2018 (GLOBE NEWSWIRE) — Deep Down, Inc. (OTCQX: DPDW), a specialist in deepwater oil and gas production and distribution equipment and services, announced today that CFO Charles Njuguna will present at The Sidoti Fall 2018 Conference in New York on Thursday, September 27 at 8:35 am ET. Deep Down’s presentation will be webcast, and Charles Njuguna is available for one-on-one meetings throughout the day.
Sidoti Fall 2018 Conference Details:
Deep Down Presentation time: Thursday, September 27 at 8:35 am ET
Webcast / Replay URL: http://www.investorcalendar.com/event/37489
Location: Grand Hyatt New York (109 East 42nd Street)
|Deep Down at a Glance:|
|Share Price:||$0.90||Book Value*:||$21.0M|
|52-Week Range:||$0.67 – $1.25||Price / Book Value:||0.57x|
|Shares Out*:||13.4M||TTM Revenue:||$16.3M|
|Market Cap:||$12.1M||Price / Sales:||0.74x|
|Cash & Short-term investments*: $3.4M|
|* at 6/30/18|
Attractive Valuation and Industry Outlook:
Deep Down believes industry demand for its specialized deepwater equipment and services is in the early stages of a rebound, driven by major oil companies and independents starting to reinvest in new and existing projects following several years of industry challenges. Additionally, customers are now recognizing the need to address maintenance on complex undersea infrastructure, work that had been deferred in prior periods due to budget constraints. Improving energy pricing and operating results from many oil industry leaders bodes well for their ability to invest in offshore projects that provide future opportunities for Deep Down. With a solid balance sheet and attractive valuation relative to book value and trailing twelve months sales, Deep Down shares seem worthy of a closer look.
About Deep Down, Inc. (www.deepdowninc.com)
Deep Down focuses on complex deepwater and ultra-deepwater oil and gas production distribution system technologies and support services, connecting the platform and the wellhead. Deep Down’s proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, installation buoyancy, remotely operated vehicles and tooling, marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions.
Forward-Looking Statements Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company’s filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.
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Tanya Kamatu, Chris Eddy