McDermott Reports Second Quarter 2018 Financial and Operational Results
MCDERMOTT INTL (MDR)
Last mcdermott intl earnings: 11/4 04:15 pm
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US:NYSE Investor Relations:
mcdermott-investors.com/phoenix.zhtml?c=96360&p=irol-calendar_pf
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Source: PR Newswire
HOUSTON, July 31, 2018 /PRNewswire/ -- McDermott International, Inc. (NYSE: MDR) ("McDermott" or the "Company") today reported revenue of $1.7 billion and net income of $47 million, or $0.33 per diluted share, for the second quarter of 2018. Results reflect solid execution and a tax benefit of $117 million related to an internal transfer of certain intellectual property rights, offset by $138 million of transaction costs, costs to achieve our Combination Profitability Initiative (CPI), debt extinguishment costs, and intangibles amortization.Excluding the tax benefit and charges identified above, McDermott's adjusted net income for the second quarter was $59 million, as detailed in an accompanying table. Adjusted diluted earnings per share were $0.29, which includes the amortization related to acquired intangible assets.Financial Highlights TableThree Months EndedSix Months EndedJun 30, 2018Jun 30, 2017Jun 30, 2018Jun 30, 2017(In millions, except per share amounts)Revenues$1,735$789$2,
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