This article was originally published by TheStreet on September 18, 2014.
NEW YORK (TheStreet) -- Houston-based oil and gas services company McDermott International (MDR) has struggled with losses on projects, but a turnaround -- and a profitable backlog -- looks to be on track.
In the first six months of operations this year, the oil and gas equipment and services company has reported operating losses of $13.5 million. Moreover, during the second quarter's conference call, the company predicted another round of operating losses in the second half of this year. For the year to date, McDermott's shares have fallen by just shy of 30%, closing at $6.40 on Wednesday and up to $6.45 as of Thursday at 11 a.m.
