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EARNINGS

November 11, 1987

McDermott International lost $307.8 million in the second quarter, compared to a loss of $32.3 million a year ago, primarily from a loss in its government securities portfolio. The New Orleans energy services company also said marine construction markets continue to be depressed and that a worldwide overcapacity of fabrication facilities and marine construction vessels will keep pressure on profitability for the foreseeable future. Its Babcock & Wilcox unit is experiencing better results, the company said, principally from fossil power generation operations and industrial products and services.

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