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McDermott International Earnings Call 
 
McDermott Earnings Call, Fourth Quarter 2008
11th March 2009 00:00 AM
Net income a decreased 51% from $160 million, or 70 cents per diluted share in the same period 2007 to $43 million, or 19 cents per diluted share.
McDermott''s reported revenues of $1,664.5 million, an increase of 9.1 % compared to $1,526.0 million in the corresponding period in 2007. The $138.5 million growth was provided by a 15.7% and 13.1% increase in the Offshore Oil & Gas Construction and Government Operations segments, respectively.
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McDermott Earnings Call, Third Quarter 2008
14th November 2008 00:00 AM
Continued deterioration and forecasted lower productivity, mainly the Middle East marine pipeline projects have forced a downward revision in margin e
The engineering firm reported a 39% drop in income to $86 million or 37 cents a share due to project losses at the gross margin level in offshore construction. Revenues had, however, rose 26% to $1.7 billion on strong performance from the Offshore Oil and Gas Construction segment.
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McDermott International Earnings Call, Second Quarter 2008
17th August 2008 00:00 AM
Despite the turmoil in the overall credit market, the firm is well positioned from a liquidity standpoint.
The firm reported net income of $178 million or 77 cents a share, 19% above last year''s $149 million or 66 cents per share as revenues rose 26% to $1.8 billion, 26% above a year ago, with the increase coming from the Offshore Oil and Gas Construction segment where revenues were up 50% or almost $300 million. The firm closed the acquisition of the Intech group of companies to expand its capability in servicing the U.S. commercial nuclear service market.
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McDermott International First Quarter Earnings Call
19th May 2001 00:00 AM
Profit fell to $123 million, as weather-related downtime hit offshore oil and gas business.
Revenue increased 6% to $1.45 billion, as higher offshore oil and gas construction and government revenue offset lower power generation systems revenue. There was a $68.3 million drop in income in offshore oil and gas construction segment, mainly due to a high-level of unproductive offshore working days for major construction vessels. Power generation sales slipped to $616.3 million from $655.4 million due to less work on new fossil utility steam systems and retrofits of existing facilities.
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McDermott International Fourth Quarter Earnings Call
12th March 2008 00:00 AM
Profit rose 27% to $160 million, helped by income growth in all divisions.
The engineering and construction company’s revenue increased 17% to $1.53 billion, exceeding analysts’ expectations of $1.48 billion. Revenue of offshore oil and gas construction unit was $733.3 million, up 54%. Income for the offshore oil and gas unit more than doubled to $100 million. In China, joint venture remains active, with Chinese and export work to Asia and the U.S.
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McDermott International Third Quarter Earnings Call
13th November 2007 00:00 AM
Net income was $140 million or 61 cents a share, up 37% from the prior year due to continued project execution.
The engineering and construction company realized an 18% growth in revenues to $1.3 billion from $1.1 billion in 2006 driven by offshore construction and power generation segments. Although reserve margins are declining, energy demand continue to exceed supply over the foreseeable future. The firm remains focused on environmental equipment projects, expanding the OEM offerings overseas and increasing its R&D effort and spend on the pursuit of cost effective CO2 solutions.
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McDermott International Second Quarter Earnings Call
13th August 2007 00:00 AM
Income grew to $149.4 million or $1.31per share from $47 million or 41 cents per share a year ago, on strong results across all segments.
The engineering and construction company reported a 35% jump in revenues to $1.42 billion following strong performance from the Offshore Oil and Gas Construction and Power Generation segments. Despite strong credit ratings, the firm eliminated all debt leading to a healthy cash position, which will be used to pursue organic growth through acquisitions.
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McDermott International First Quarter Earnings Call
26th June 2007 00:00 AM
Government Operations and Power Generation Systems increased income by 31.8% and 57.8%, respectively, while unallocated corporate expenses declined.
The engineering and construction company reported revenue of $1.4 billion from $644.9 million last year. Revenues in the Offshore Oil & Gas Construction segment increased 86% due to strong industry demand. The company received a contract worth more than $250 million from American Electric Power Co. Inc. to design and build a 600-megawatt coal-fired boiler and environmental control equipment. Unallocated corporate expenses were $6.9 million, related to lower stock based compensation expenses.
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