expects to double its network revenue in the first quarter compared with the same period a year ago.
The fiber-optic network company, which is Tulsa, Okla., told investors and analysts this morning that it sees network revenue of $243 million to $250 million in the first quarter. For the full year, Williams projected network revenue of $1.3 billion to $1.4 billion.
Williams, which is 85%-owned by energy company
, also projected consolidated expenditures of $1.8 billion to $2 billion for 2001.
The communications company is in the process of building one of the nation's largest fiber-optic networks, even as the industry has been hit with a
spending slowdown. Analysts have been looking out for the ways Williams plans to
raise more money.
Shares of Williams Communications were lately down 19 cents, or 1.1%, to $16.91 on the
New York Stock Exchange
. Parent company Williams rose $1.06, or 2.4%, to $45.04 on the Big Board.
raised its 2001 earnings outlook for Williams Cos. to $2.25 from $2. The firm increased its expectation for 2002 to $2.50 from $2.25.