McDermott Reports 1Q Loss

Thursday, May 03, 2001
Marine construction and engineering company McDermott International Inc. reported a first-quarter loss in line with earnings guidance issued by the company in February. McDermott posted a net loss of $4.4 million, or 7 cents a diluted share, compared with net income of $7.9 million, or 13 cents a diluted share, in last year's first quarter. Wall Street analysts had expected a loss of 6 to 10 cents per share, according to Thomson Financial/First Call. The mean estimate was a loss of 8 cents. The company said earnings for the full year should be in the range of 50 to 55 cents a share, and should be between 5 and 10 cents a share for the second quarter. Projections for both those periods are in line with expectations on Wall Street. McDermott had said in February that it expected a loss for the first quarter because of low volumes of marine construction work. The company's Babcock & Wilcox unit, which is involved in asbestos liability litigation, is undergoing a Chapter 11 bankruptcy reorganization and was deconsolidated in Feb. 2000. - (Reuters)
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Damen Outfitting First of Nine Bahamas Patrol Boats

The first of nine Damen Stan Patrol 3007s ordered by the Royal Bahamas Defense Force has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting.

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

New Chinese Shipyard Launches First Ship

The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel,

 
 
Maritime Contracts Maritime Security Maritime Standards Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.1033 sec (10 req/sec)