Williams Cos.Profit Doubles

Friday, February 23rd 2007, 9:40 am
By: News On 6

TULSA, Okla. (AP) -- Tulsa-based Williams Companies is reporting its fourth-quarter 2006 profits more than doubled from the year before.

Williams says it had net income of nearly $146.5 million in the final three months of last year compared to just under $67 million in the fourth quarter of 2005.

Company officials say the improvement is due in part to a $40 million gain related to resolving a tax dispute and the fact some costly lawsuits have ended.

Williams also says it recorded higher profits in its natural gas and liquids processing and pipeline businesses.