UPDATE 1-Cal Dive Q1 results beat Street view

* Q1 EPS $0.12 vs est. of $0.11

* Q1 revenue rises 43 pct; beats estimates

May 5 (Reuters) - Offshore energy services company Cal Dive International Inc (DVR.N) posted a higher first-quarter profit, that beat market estimates by a penny, helped by a rise in vessel utilization rate.

For the first quarter, net income was $12.3 million, or 12 cents a share, compared with $0.6 million, or 1 cent a share, in the year-ago period.

Revenue climbed 43 percent to $207.1 million.

Analysts, on average, expected the company to earn 11 cents a share, before items, on revenue of $183.3 million, according to Reuters Estimates.

Cal Dive said the rise in utilization was primarily due to increased diving activity in international markets and repair and salvage work due to the hurricanes Gustav and Ike.

Shares of the Houston, Texas-based company closed at $8.65 Tuesday on the New York Stock Exchange. (Reporting by Antonita Madonna Devotta in Bangalore; Editing by Jarshad Kakkrakandy)