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Williams exceeds expectations

TULSA, Okla. -- Williams Communications Group announced fourth-quarter unaudited revenues from continuing operations of $287.0 million, an increase of $77.7 million or 37 percent over the third quarter and $127.8 million higher than the fourth quarter of 1999.

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Consolidated annual revenues totaled $839.1 million, with network services revenue contributing $705 million.

Consolidated earnings from continuing operations before interest, taxes, depreciation and amortization and other adjustments (EBITDA) grew in the fourth quarter to $64.3 million including $98.6 million of investment gains. These results compare favorably to the third quarter EBITDA loss of $9.3 million that included $50.7 million of investment gains. Excluding the investment gains, operational EBITDA was a loss of $34.3 million compared to a corresponding loss in the third quarter of $60.0 million.

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© 2012 Penton Media Inc.

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