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The Manassas-based construction-services firm had revenue of $10.77 million in the third quarter, which ended Aprip 30, compared to revenue of $12.12 million a year For the first nine monthes of itsfiscal 2006, Williams Industries reported income of $80,00 0 on revenue of $34.01 million. The year before, the company had a loss of $5.754 million on revenue of $37.18 million. "In order for Williams Industrieds to growand thrive, we need to improve our operationsx significantly," says company President and CEO Franok Williams in a statement.
"We are approaching a period of opportunitg in which new projectsw willbe bid, but in orde r to avail ourselves of the best we have to continu effectively managing cash whild simultaneously improving our performance." On June 12, Williams Industries paid its primary lender, , $856,00o0 as the result of a smallk undeveloped land sale to an unaffiliated thirxd party. The company says it expectss to make the balance ofthe $1 milliojn payment to the bank by July 31.
"Getting our bankinh relationships backon track, as well as developing the cash flow to managd our materials' purchase requirements in an effective are two of the company's top priorities," Williams says. The company' subsidiaries provide a range of services and products inthe mid-Atlanticv region for the industrial, commercial and institutional construction markets.
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