Third-Quarter Results Mixed.(Brief Article)

Chemical Week, November, 2000 by WALSH, KERRI

THIRD-QUARTER RESULTS FOR ENGINEERING AND CONSTRUCTION (E&C) firms were mixed, and several firms are integrating purchases made earlier this year. Washington Group International (Boise, ID), which bought Raytheon's E&C unit in July, says it rook a net loss of $700,000 for its fiscal third-quarter ended September 1, compared to a net income of $12.3 million for the same period last year. Sales jumped 51%, to $899 million. Operating income dropped 50%, to $11.4 million. Results include charges and insurance recovery on several projects, which total $18 million, and $10.1 million for integrating the Raytheon unit.

Halliburton's Kellogg Brown & Root (KBR) E&C business posted sales of $1 billion, up 3% from the same period last year. Third-quarter income was flat,...

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