Williams reports second-quarter results

At the end of July, Williams announced an un-audited net loss of US$ 349.1 million, or 68 cents per share, compared with net income of US$ 339.5 million, or 69 cents per share, for the same period in …

At the end of July, Williams announced an un-audited net loss of US$ 349.1 million, or 68 cents per share, compared with net income of US$ 339.5 million, or 69 cents per share, for the same period in 2001. The 2001 results included 2 cents per share for discontinued operations. The 2002 results are consistent with earnings guidance provided on 22 July. On a recurring basis, Williams realized an un-audited second-quarter recurring loss of 34 cents per share vs. recurring earnings of 57 cents per share during the same period last year. As a result of a recently announced restructuring plan executed by various parties, including Williams, the company during the second quarter recognized an additional US$ 15 million write-down of receivables and claims from Williams Communications Group. Williams moves, manages and markets a variety of energy products, including natural gas, liquid hydrocarbons, petroleum and electricity. Based in Tulsa, Oklahoma,US, Williams“ operations span the energy value chain from wellhead to burner tip.