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Market Update : 
McDermott Q3 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 11:46 AM ET December 01 2008


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John A. Fees

I think there shouldn''t be anything that''s not consistent with past results.

Joe Gibney - CapitalOne Southcoast

Okay, that''s fair. And last, on relative to where we are today, CapEx outlook and any change in mindset relative to buyback now? Obviously, the hypersensitivity on the liquidity front but curious on your stance now looking where we are today? I appreciate it.

John A. Fees

We are certainly very focused on what''s happening in the liquidity and then in the markets. And right now, we are enjoying the position that we have, but that doesn''t go without saying that we are continually evaluating our options in that area and have an ongoing dialog between the management of the company and our Board of Directors relative to that...those in similar related issues. And so, I would say that that is not off the table, but we do not have anything to announce to that.

Joe Gibney - CapitalOne Southcoast

All right. Thanks guys. I''ll turn it back.

Operator

And your next question comes from the line of Tahira Afzal of KeyBanc. Please proceed.

Tahira Afzal - KeyBanc Capital Markets

Good morning gentlemen.

John A. Fees

Good morning Tahira.

Michael S. Taff

Good morning.

Tahira Afzal - KeyBanc Capital Markets

Number one, I just wanted to ask you, your thoughts around reverse announcement to set up a heavy components facility in the U.S. Is that going to impact your potential participation in the market there on the replacement cycle and perhaps whenever it happens a new nuclear cycle?

John A. Fees

I really don''t think so, I think it''s more in my mind a confirmation of work is the possibility to occur in lifecycle recognizing also that the...if you take a look our nuclear facilities that are spread between Barberton, Mount Vernon and Cambridge, Ontario, it would be very difficult to replace that for the kind of value that they announced in their announcement. So, it''s sort of I would consider to be a small step in the direction. But I think will certainly continue to be very strong in that area and I do not consider to be necessarily any type of threat or concern at this point.


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