SAN FRANCISCO -- Engineering and construction company McDermott International, Inc. reported late Monday third-quarter net income rose to $118.1 million, or 50 cents a share, from $85.6 million, or 37 cents, a year ago. Operating income, which excludes one-time items, rose 57% to $144.8 million from $92 million. Revenue for the quarter rose to $1.68 billion from $1.66 billion, driven mainly by 26% growth in its offshore oil and gas construction business. Analysts polled by FactSet Research had predicted the Houston-based company would post earnings of 40 cents a share on $1.53 billion in revenue. McDermott shares closed ahead of the report with a 27-cent gain at $24.16. The stock is up 142% over the past 12 months.

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