WG ,,, Willbros to Delay First-Quarter Report
Wednesday May 11, 5:26 pm ET
Willbros Says First-Quarter Financial Report to Be Delayed by Audit Committee Probe
HOUSTON (AP) -- Willbros Group Inc., a construction contractor to oil and gas companies, said Wednesday that it will delay filing its first-quarter financial report because of an ongoing investigation into the activities of a former senior executive.
The company had previously delayed filing its 2004 annual report. Willbros' audit committee is looking into actions by the former president of its international business and certain other employees.
Willbros said it plans to detail the financial impact of the investigation and any remedial actions on May 16, along with releasing operating earnings for the first quarter.
The company's shares fell 58 cents, or 3.4 percent, to close earlier at $16.62 on the New York Stock Exchange.
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