Annual report pursuant to Section 13 and 15(d)

Quarterly Operating Results (Unaudited) - Summary of Quarterly Results of Operation (Detail)

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Quarterly Operating Results (Unaudited) - Summary of Quarterly Results of Operation (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Quarterly Financial Information Disclosure [Abstract]                      
Revenue $ 135,138 [1] $ 168,191 $ 154,575 [1] $ 150,422 $ 129,237 [2] $ 141,793 [1] $ 137,227 $ 113,083 $ 608,326 $ 521,340 $ 307,832
Gross profit (loss) (1,775) [1] 9,055 9,677 [1] 6,704 (9,354) [2] (13,379) [1] 13,905 12,668 23,661 3,840 4,528
Net income (loss) $ (3,110) [1] $ 3,276 $ 4,279 [1] $ 2,787 $ (8,090) [2] $ (10,372) [1] $ 7,592 $ 6,779 $ 7,232 $ (4,091) $ (1,804)
Basic EPS $ (0.22) [1] $ 0.23 $ 0.30 [1] $ 0.19 $ (0.56) [2] $ (0.72) [1] $ 0.52 $ 0.47 $ 0.50 $ (0.29) $ (0.13)
Diluted EPS $ (0.22) [1] $ 0.23 $ 0.30 [1] $ 0.19 $ (0.56) [2] $ (0.72) [1] $ 0.52 $ 0.47 $ 0.50 $ (0.29) $ (0.13)
[1] We recognized contract losses of $18.2 million in the three-month period ended December 31, 2013, $11.4 million in the three-month period ended June 20, 2013, and $20.6 million in the three-month period ended September 30, 2012, as required under the accounting for loss contracts under percentage of completion accounting. Losses in 2012 were due to the increase in estimated man-hours to complete one of our major deepwater contracts, primarily driven by revisions and delivery delays to specifications and designs by our customer in the third quarter of 2012 causing out-of-sequence work schedules to be used while executing the project. The customer also extended delivery of the first phase of the project as a result of these revisions. On March 7, 2013 we executed change orders with the customer which settled issues raised in a claim for additional costs on this project. Revenue for this claim was recorded in the three-month period ended December 31, 2012. Contract losses increased in 2013 due mainly to the impact of de-scoping and final close-out of one of our major deepwater projects, as further discussed in the Note 1 under "Revenue Recognition" above.
[2] We determined the contract receivable balance owed by Bluewater Industries on the Cheviot project as describe in Note 1 "Assets held for sale" would not likely be collected in full and recorded a $14.5 million reserve as of December 31, 2012. In March 2013, we terminated our contract with Bluewater relating to this project.