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McDermott International Inc. Message Board

  • wiffmyanus wiffmyanus May 15, 2013 2:25 PM Flag

    Revenues up, but they can't make money. Bad management! profits down 33.8%. is that good?

    McDermott generated revenues of $807.5 million in the quarter, up 11.0% from the first quarter of 2012 and also ahead of our expectation of $733.0 million. Increased fabrication activity in the Atlantic region and better operations in the Middle East and Asia Pacific regions boosted the company’s results.

    On a reported basis, McDermott registered operating income of $53.0 million (down 33.8% year over year) during the quarter. Total costs and expenses also increased 16.5% from the corresponding period last year to $750.3 million.

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