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IN BRIEF / Earnings

Williams Cos. Reports $814.5-Million Loss

May 14, 2003|From Bloomberg News

Williams Cos., which is selling sections of the second-largest U.S. natural-gas pipeline network to avert insolvency, posted its fourth straight quarterly loss after an accounting-rule change for energy trades.

The first-quarter net loss was $814.5 million, or $1.59 a share, compared with net income of $107.7 million, or 7 cents, a year earlier, the company said. Revenue more than tripled to $5.3 billion.

The shares of Tulsa, Okla.-based Williams rose 8 cents to $7.08 on the NYSE.

From Bloomberg News

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