Williams Cos. 2Q Net 14c/Diluted Shr Vs 28c, Both On
Items
Dow Jones Newswires -- July 22, 1998
Williams Cos. - Tulsa, Okla.
2nd Quar June 30:
1998 1997
Revenue $1,640,700,000 $1,870,900,000
Net income a 60,700,000 b 118,500,000
Avg shrs (basic) 426,163,000 411,423,000
Avg shrs (diluted) 441,464,000 428,496,000
Shr earns (diluted)
Net income a .14 b .28
a. Includes charges of $25 million, or 3 cents a share, for a loss provision related to a federal
regulatory action, and costs related to the acquisition of Mapco.
b. Includes gains of $44.5 million, or 10 cents a share, on a transaction involving the
customer-premise equipment business.
Williams Cos. Inc. (WMB) said the acquisition of Mapco benefited its growth in scale but
conditions in segments of the energy market remain difficult.
The company's gas pipeline business reported improved operating profit in the latest second
quarter, but operating profits were lower for its energy services division.
The communications segment, which includes a broadband network and other technology
applications, reported a loss, compared with a profit year ago. The company said cost and
construction of its national fiber-optic network is exceeding expectations, however. |
