McDermott Int'l Loss Wider Than Estimates - Quick Facts

(RTTNews) - McDermott International Inc (MDR) Wednesday reported first-quarter net loss of $50 million or $0.21 per share compared with net earnings of $20.6 million or $0.09 per share last year.

Revenues for the quarter were lower by 25% at $603.8 million compared with $807.5 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.12 per share on revenues of $664.56 million for the quarter. Analysts' estimates typically exclude special items.

Expenses for the quarter were higher at $646.6 million compared with $750.3 million last year.

Houston, Texas-based McDermott operates as an engineering, procurement, construction, and installation company for upstream field developments.