interest expense

Interest expenses were cut by 34 percent, or $34 million.

But it also means the company may face much higher interest expenses later on.

Interest expenses dropped last year to $966 million, from $1.13 billion in 1990.

In the first quarter of that year, interest expenses alone were $76.6 million.

Each day can cost several thousand dollars in interest expense.

So who knows, maybe in the third year they have more revenue than interest expenses.

Interest expense increased 9 percent, to $4.1 million for the quarter.

For the company, the good news is a new capital structure that will save $60 million a year in interest expense.

The company's interest expense for the 1993 quarter dropped 37 percent, to $9.9 million.

And time is money; each month of construction adds about $35 million in interest expense.