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Washington Group International has significantly reduced its revenue and profit projections.
Boise-based WGI, which emerged from a Chapter 11 bankruptcy in mid-January, last week released an updated financial outlook that calls for significantly lower profits and revenues this year and beyond
The company expects 2002 revenue of $2.7 to $3 billion, and gross profit of $135 million to $145 million, a company statement said. It anticipates EBITDA (pretax earnings) of $110 million to $120 million for the year, and $26 million to $30 million in net income.
In August, WGI predicted 2002 revenues of $3.1 billion and gross profit of $151...