Morrison Knudsen Corp. reported a $51.3-million loss...
From Times Wire Services
Morrison Knudsen Corp. reported a $51.3-million loss for the first three months of the year, mostly from the sale of MK Rail Corp., its rail subsidiary.
The company also said it may learn by next week whether it can borrow another $30 million and tap revenue from the sale of some assets--a plan that is supposed to give it 18 months to regain its financial footing.
The first-quarter loss came to 60 cents a share. A year ago, the company reported a profit of $9.6 million, or 22 cents a share. Revenue rose 12% in the quarter to $517.17 million from $461.79 million a year ago.
