McDermott Int'l Slips To Loss In Q2 - Quick Facts

(RTTNews) - McDermott International, Inc. (MDR) reported net loss for the second quarter of $149.4 million, or $0.63 per share, compared to net income of $52.7 million or $0.22 per share in the comparable quarter last year.

McDermott's revenues for the latest second quarter declined to $647.25 million from $889.25 million in the year ago quarter, mainly due to the Middle East and Asia Pacific segments, primarily due to the completion of several significant projects that were active in the 2012 second quarter.

On average, analysts polled by Thomson Reuters expected the company to earn $0.03 per share on revenue of $757.87 million for the second quarter. Analysts' estimates typically exclude special items.

At June 30, 2013, the Company's backlog was approximately $5.1 billion, compared to $5.3 billion at March 31, 2013.