McDermott Profit Falls 22%

Wednesday, May 14, 2008

Revenue increased 6 percent to $1.45b from $1.36b a year earlier, as higher offshore oil and gas construction and government revenue offset lower power generation systems revenue.

The company said it posted a $68.3m drop in income in its offshore oil and gas construction segment, mainly due to a high-level of unproductive offshore working days for major construction vessels during the 2008 first quarter, because of poor weather conditions and reduced activities in the Caspian region.

McDermott said offshore oil and gas revenue rose to $645.9 from $550.3m as fewer activities in the Caspian region were offset by added work in the Middle East and Asia Pacific regions. Power generation sales slipped to $616.3m from $655.4m due to less work on new fossil utility steam systems and retrofits of existing facilities.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Navy Ocean Services Contracts Awarded to Five Firms

The US Department of Defense inform that five firms are to share in a broad range of ocean engineering services contracts with a combined maximum dollar value of US$99-million.

SUNY Maritime Grads Start at Higher Salary: PayScale

What do SUNY Maritime College graduates have that Princeton, Harvard, Yale, and Columbia graduates don’t have?  Higher starting annual salaries; that’s what, answers SUNY.

CAGTC Members Win Big in TIGER VI

The U.S. Department of Transportation (USDOT) announced Friday that 72 projects will receive a total of $600 million from the sixth round of the Transportation

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1081 sec (9 req/sec)