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Gold/Mining/Energy : Trico Marine Services (TMAR) -- Ignore unavailable to you. Want to Upgrade?

To: JZGalt who wrote (433)	6/12/1998 1:24:00 PM
From: D.J.Smyth	Read Replies (1) \| Respond to of 1153

According to Grain at TMAR, Tidewater's boats are older than TMAR's and thus have a lower utilization ratio relative to total boats owned compared to TMAR. Utilization ratios will be substantially different at different transports. Anyway, TMAR has practically new boats serving the north sea and Brazil from where they derive 40% of their revenue. If the utilization drops in the gulf to 70% from the current 85%, the drop in earnings for TMAR would approximate 12% for 1999, but not the 40% drop Furman Selz is estimating. Why is no other analyst covering TMAR (including Michael Price, if you can call him an analyst) as concerned as Ferman Selz? TMAR enlarged two main service vessels in the gulf which placed them in strong demand given their hauling capacity. Heck, if all else fails, they can convert the boats to site seeing rigs since vacations to Mexico are up over 40% this year. There's always a turn. viewing the weighted candlesticks on both a 30 minute and 5 minute basis, it shows that 80% of the trades at $15 area was occuring on the buyside. why this thing keeps finding a new low is puzzling; unless those who make a market in the stock are still attempting to shake out the sellers