On Monday, McDermott International (NYSE:MDR)’s shares inclined 3.12% to $4.62.
McDermott International, Inc. (MDR) declared financial and operational results for the quarter ended June 30, 2015. The Company stated second quarter 2015 net income of $11.5 million, or $0.04 per fully diluted share contrast to a net loss of $7.4 million, or $0.03 per diluted share, in the preceding-year quarter. Net of restructuring charges and one-time losses on the impairment and disposal of assets, the second quarter income would have been raised by $24.1 million or $0.08 per fully diluted share.
Second Quarter 2015 Operating Results
The Company stated second quarter 2015 revenues of $1.05 billion, an enhance of $570.5 million, contrast to revenues of $476.1 million for the preceding-year second quarter. Revenues for the second quarter of 2015 were positively influenced by strong revenue recognition at the INPEX Ichthys project, Brunei Shell Petroleum project and three Middle East projects.
McDermott’s operating income was $41.6 million for the second quarter of 2015 and comprised of $15.4 million of restructuring expenses and $8.7 million of one-time losses on the impairment and disposal of assets. These results compare to the 2014 second quarter operating income of $31.5 million, which comprised of $1.3 million of restructuring expenses and $45.7 million of gains from the disposal of assets and impairments. Net of the asset gains and impairments, the operating income for the second quarter of 2014 would have been negative. Operating income for the second quarter 2015 was positively influenced by revenue improvements, a project close out in Brazil and marine utilization.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.
Kindred Healthcare, Inc. (NYSE:KND)’s shares gained 0.13% to $22.93.
Kindred Healthcare, Inc. (KND) declared that its Board of Directors approved the payment of the regular quarterly cash dividend to its common shareholders. The quarterly cash dividend of $0.12 per common share will be paid on September 4, 2015 to shareholders of record as of the close of business on August 19, 2015.
Kindred also declared that its Board of Directors has approved payment in cash of the planned September 1, 2015 installment payment of $18.75 per unit on the Company’s 7.50% Tangible Equity Units. The installment payment will be paid on September 1, 2015 to the holders of record as of 5:00 p.m., New York City time, on August 15, 2015. To the extent that any unit has been separated into its constituent purchase contract and its constituent share of mandatory redeemable preferred stock, the installment payment is payable only on the constituent share of mandatory redeemable preferred stock.
Kindred Healthcare, Inc. provides healthcare services in the United States. It operates in four divisions: Hospital, Nursing Center, Rehabilitation, and Care Administration. The Hospital division operates transitional care hospitals that provide services for medically complex patients, counting the critically ill, suffering from multiple organ system failures, primarily the cardiovascular, pulmonary, kidney, gastro-intestinal, and cutaneous systems. This division also operates inpatient rehabilitation hospitals, which offer services to patients who require intensive inpatient rehabilitative care.
At the end of Monday’s trade, New York REIT Inc (NYSE:NYRT)‘s shares surged 0.49% to $10.17.
New York REIT Inc (NYRT) declared that Randolph C. Read has been designated Non-Executive Chairman of the Company’s Board of Directors (the “Board”), and the Board has been overwhelmingly re-elected at recently’s shareholders meeting. Mr. Read, who has served as a director on the Board since December 2014, will succeed William M. Kahane, who will continue to serve as a director.
Co presently, in line with its commitment to maximize long-term stockholder value, NYRT declared that the Board has authorized the Company to repurchase up to $150 million of the Company’s common stock. Additionally, the Board has authorized the engagement of Cushman & Wakefield and Holiday Fenoglio Fowler to sell certain of the Company’s non-core assets as part of the Company’s efforts to focus on high quality New York City real estate generating comprising, stable returns and providing noteworthy long-term capital appreciation opportunities.
New York REIT, Inc. focuses on acquiring commercial real estate, in addition to acquiring properties or making other real estate investments that relate to office, retail, multi-family residential, industrial, and hotel property types located primarily in New York City. It intends to qualify as a real estate investment trust for the U.S. federal income tax purposes. The company was formerly known as American Realty Capital New York Recovery REIT, Inc. New York REIT, Inc. was founded in October 2009 and is based in New York, New York.
General Dynamics Corporation (NYSE:GD), ended its Monday’s trading session with 1.50% gain, and closed at $151.96.
General Dynamics Corporation (GD) was awarded a contract to continue assisting the Centers for Medicare & Medicaid Services (CMS) Retiree Drug Subsidy (RDS) program. The indefinite delivery, indefinite quantity contract has a value of about $43.5 million, with a one-year base period and four option years.
The RDS program runs a website that serves as a comprehensive resource center for organizations participating in the program and encourages employers and unions to continue providing high-quality prescription drug coverage to their retirees. General Dynamics will deliver infrastructure, software and development, technical support, operations administration, education and training, payment and appeals processing, and compliance oversight for the RDS program’s public website and a secure website for plan sponsors.
General Dynamics Corporation operates as aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, manufactures, and outfits business-jet aircrafts; provides aircraft services, such as maintenance, repair work, fixed-based operations, and aircraft administration services; and performs aircraft completions for aircraft.
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