Question-and-Answer Session
Operator
[Operator Instructions] Your first question comes from line of Neil Dingmann from Wunderlich Securities. Your line is open.
Neil Dingmann - Wunderlich Securities
On the Subsea Products side, I saw the backlog just declined slightly. Do you see that kind of staying on a flat level or possibly increasing in 2010, as you guys start to look at 2011 and building that (inaudible)?
Jay Collins
No. It's a good question, Neil. Unfortunately, I've really gotten out of backlog predicting business. As you know, it's just a very lumpy world and big orders swing it from quarter to quarter. We continue to see a lot of work potentially out there, but the timing of these projects is just unpredictable. So I'm not going to give you a prediction on our net result, I think next year will be a better year for products, and we'll have more business. But I'm out of the backlog predicting business.
Neil Dingmann - Wunderlich Securities
That's fair. That's a fair point. Just on the ROV side, have you seen much pricing pressure? Or it looks like the margins are staying really strong. Are guys coming back to you and trying to lower the prices? Or are they still staying at a good level?
Jay Collins
Well, I think our results continue to be excellent. The net result, all of our customers are interested in pricing discounts, and there certainly is competition out there. But I think we offer the best value, and we continue to sell on value, and we continue to make that argument with our customers. So it's a daily fight. I'm really proud of our guys for achieving what they've accomplished so far. But we expect, I think, to continue what we're doing right now.
Operator
Your next question comes from the line of Chris Glaseem from Simmons & Company. Your line is open.
Chris Glaseem - Simmons & Company
Firstly, talking about Subsea Projects. I was wondering if you could give us some general color as to what you're seeing in the Gulf of Mexico right now. Just thinking generally, if activity is flat to down next year, how competitive can it get given the number of deepwater construction vessels that are in the Gulf?
Jay Collins
Well, I think we are seeing more vessels appear on the world scene and so there is an excess supply of vessels. But keep in mind this is not just a vessel business. We are selling a service. So we're selling project management, safety, tooling, offshore operations, ROV skilled personnel, and the ability to go out and do the job quickly and efficiently and safely. So it's not just a vessel.
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