Loss spurs Williams to change contract policy

Dec 15, 2004 | 09:06 AM |

In a shift from industry practices, construction services company Williams Industries Inc., Manassas, Va., said that after tallying losses on higher steel costs it might only take on contracts that have material-escalation clauses or quick-handling provisions for change orders.

Executives said the company had lost $577,000 on revenue of $12.5 million during its fiscal first quarter ended Oct. 31 in contrast to net income of $227,000 on revenue of $13.6 million a year earlier.....

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