OTHER NEWS - Feb. 2, 1995

Morrison Knudsen Sees Loss, Eliminates Dividend: In a surprise announcement that sent its stock plummeting, Morrison Knudsen Corp. said it will post a significant loss for the fourth quarter and eliminate its dividend. The news sent the Boise, Ida.-based construction and engineering company’s stock down $3, or 24%, to close at $9.50 on the New York Stock Exchange. The company said it “expects its operating results will be substantially below expectations for the fourth quarter, resulting in additional losses for 1994.” Analysts had expected Morrison Knudsen to report a modest profit for the quarter after a string of losses in recent quarters. The company attributed the latest losses to construction and transit projects and the write-off of its Vertac operations in Arkansas. Morrison Knudsen said that as a result of the losses, it will eliminate its quarterly dividend.