OTHER NEWS - June 27, 1995
<i> Times Staff and Wire Reports</i>
Bad Year for Morrison Knudsen: The financially beleaguered construction management company released its repeatedly delayed 1994 earnings report, confirming anticipation of a loss of nearly $350 million. Morrison Knudsen Corp., trying to right itself after the ouster of Chairman William Agee last February, also repeated that it urgently needs more cash. The 1994 loss of $349.6 million, or $10.75 a share, contrasts with a profit of $35.8 million, or $1.15 a share, a year earlier. 1994 revenue fell to $2.5 billion from $2.7 billion a year earlier. The Boise, Ida.-based company’s stock fell 50 cents a share Monday to $6 on the New York Stock Exchange.
