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.
Revenues are up because they are bidding to cheap to get job, but not making money.
You can get all the business you want if you can't make money it is not doing you any
I guess the concept of making money is to hard for you to figure out.
This has been fun. I have had a good laugh at the stupidity show on this board, but
my tee time is in 30 minutes. Have to go spend some of the profits I have made on good stocks.