McDermott International has managed a profit boost during the second quarter of the year.
The engineering and construction company was hit by a better-than-expected revenue growth which took its earnings outlook from $50million to $70million.
Its previous view had been for $25million to $50million.
The Houston-based company did lower its revenue guidance by $300million and said it expects the figure to be between $3billion and $3.3billion.
The company, which build infrastructure for offshore oil and gas producers, also said it has reduced its headcount by an estimated 1,700 worldwide.
The headcount reductions include 475 employees and more than 1,200 contractors that had worked in the company’s fabrication yards.
McDermott reported a profit of $11.5million in comparison with a loss the same time last year of $7.4million.