McDermott International Inc
Its shares fell 3 percent, as investors scale back their expectations for any recovery in engineering projects this year after downbeat 2010 outlooks from Fluor Corp
McDermott said fourth-quarter net income rose to $98.7 million, or 42 cents per share, from $43 million, or 19 cents per share, in the same quarter a year before. Revenue fell to $1.46 billion from $1.66 billion.
Analysts, on average, had expected a profit of 39 cents per share on revenue of $1.53 billion, according to Thomson Reuters I/B/E/S.
These results highlight the resiliency of our businesses in what still remains a challenging economic environment, Chief Executive John Fees said in a statement.
Shares of McDermott fell to $23.10 in after-hours trading, after closing at $23.82, up 4.25 percent.
The Houston-based company's backlog fell to $8.1 billion at the end of 2009 from $8.5 billion three months before.
In December, McDermott announced plans to split off nuclear power division Babcock & Wilcox as another public company at some point this year.
(Reporting by Braden Reddall; Editing by Carol Bishopric and Steve Orlofsky)