Common use of DEC Clause in Contracts

DEC. 31 -------- -------- -------- -------- (DOLLARS IN MILLIONS) 2000 Contract revenues.......................................... $ 88.9 $ 85.5 $ 81.1 $ 83.6 Costs of contract revenues................................. (72.9) (73.4) (70.1) (65.3) ------ ------ ------ ------ Gross profit............................................. 16.0 12.1 11.0 18.3 General and administrative expenses........................ (5.3) (5.2) (5.2) (6.5) ------ ------ ------ ------ Operating income......................................... 10.7 6.9 5.8 11.8 Interest expense, net...................................... (4.5) (4.7) (4.9) (4.6) Equity in (loss) earnings of joint ventures................ (0.2) -- 0.1 (0.7) ------ ------ ------ ------ Income before income taxes and minority interests....

DEC. 31 -------- -------- -------- -------- (DOLLARS IN MILLIONS) 2000 1999 Contract revenues.......................................... $ 88.9 72.3 $ 85.5 78.0 $ 81.1 76.0 $ 83.6 76.0 Costs of contract revenues................................. (72.959.1) (73.463.9) (70.160.7) (65.361.1) ------ ------ ------ ------ Gross profit............................................. 16.0 12.1 11.0 18.3 13.2 14.1 15.3 14.9 General and administrative expenses........................ (5.34.9) (4.8) (5.2) (5.2) (6.57.0) ------ ------ ------ ------ Operating income......................................... 10.7 6.9 5.8 11.8 8.3 9.3 10.1 7.9 Interest expense, net...................................... (4.5) (4.7) (4.94.4) (4.6) (4.6) (4.5) Equity in (loss) earnings of joint ventures................ (0.20.3) -- 0.1 (0.7) 0.4 ------ ------ ------ ------ Income before income taxes and minority interests....