McDermott's woes to run into next year: Drain from J. Ray unit's fixed-price spar projects

摘要

Negative cash flows for full-year 2003 projected earlier by offshore energy construction firm McDermott International now look likely to persist into the first half of 2004, although at lower levels, CFO Frank Kalman said Aug 12. Negative cash flows are estimated at US100- to US12-mil, for this year and under US50-mil for first-half 2004, Kalman said in a conference call.