Cal Dive International, Inc. reported a net loss for fiscal 2010 of $315.8 million and $3.47 per diluted share. This compares to net income of $76.6 million and $.81 per diluted share for fiscal 2009.

The 2010 net loss includes $302.5 million ($3.32 per diluted share) in non-cash impairment charges related to goodwill and four idle construction barges recorded during the third quarter. Excluding the impairment charges, the Company recorded a non-GAAP net loss of $13.3 million, or $.15 per diluted share for the year. Aside from the non-cash impairment charges, the net loss is primarily due to a decrease in new construction services worldwide and a decrease in demand for hurricane repair work in the US Gulf of Mexico. In addition, the Company experienced lower day rates across the diving fleet during 2010. Work relating to cleanup efforts for the oil spill as a result of the Macondo well blowout partially offset the decline.