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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (77976)	11/6/2000 9:20:14 AM
From: Second_Titan	Read Replies (1) \| Respond to of 95453

CRZO Reports www2.marketwatch.com

To: Crimson Ghost who wrote (77976)	11/6/2000 9:24:33 AM
From: jim_p	Respond to of 95453

WG still working off low margin work from down turn, highlights include: 1. Record backlog of more profitable projects up to $362.7MM from $192.5MM last year. 2. Cash flow increased from a negative $23.2MM to a positive $3.8MM 3. Working capital exceeds total debt. (no leverage) 4. Stock is still selling near 52 week low, with lots of upside. Willbros Announces Third Quarter Results, Record Backlog Updated: Monday, November 6, 2000 08:05 AM ET HOUSTON, Nov. 6 /PRNewswire/ -- Willbros Group, Inc. (NYSE: WG, news, msgs) today reported a loss of $5.7 million ($.41 per diluted share) for the quarter ended September 30, 2000 on revenues of $75.0 million. Net loss for the same period in 1999 was $4.2 million ($.33 per diluted share) on revenues of $42.6 million. Revenues, by type of service for the third quarter, were as follows: Construction, $44.3 million; Engineering, $15.7 million; and Specialty Services, $15.0 million. On a comparable basis, revenues by type of service for the same period in 1999 were: Construction, $25.2 million; Engineering, $9.9 million; and Specialty Services, $7.5 million. EBITDA for the third quarter was $2.3 million or $.16 per share, up from the $1.8 million or $.14 per share EBITDA for the same period in 1999. Backlog as of September 30, 2000 was $362.7 million, a record number, up from the June 30, 2000 level of $192.5 million. The loss for the quarter is due to low margins on work in backlog, project delays in Nigeria and a $0.8 million non-recurring charge related to costs associated with the move of Willbros USA, Inc.'s administrative offices from Tulsa, Oklahoma to Houston, Texas. qw2001.quicken.com Jim