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McDermott Provides Third Quarter 2011 Preview And Preliminary 2012 Outlook

McDermott International, Inc. (NYSE: MDR) (“McDermott” or the “Company”) today previewed its 2011 third quarter by providing its current expectations for certain financial categories of the Company’s continuing operations, based upon management’s recent operating reviews.

            Financial Metric       3Q11 Expected Range/Amount
Revenues $870-$880 million
Operating Income $30-$38 million
Net Income $6-$12 million
EPS 3-5 cents per diluted share
Project Losses $50 million
 
Bids Outstanding $5.0 billion
Bookings $420 million
Backlog $4.3 billion

McDermott also announced today that it will report its actual third quarter 2011 financial results during the evening of November 8, 2011.

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