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

Each day can cost several thousand dollars in interest expense.

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

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.

The government would normally share in the cost of hospital interest expenses.

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

The company said that the sale would cut annual interest expenses by about $21 million.

"It just doesn't look like they can grow fast enough to catch up to their interest expense."

Medical expenses and investment interest expense would not be included.

It had overall interest expense of $36.8 million in the period, compared with none a year ago.

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

Given the huge amounts involved, that can mean several million dollars more in interest expenses every week.

Before interest expenses, the company had an operating profit of $138 million.

The interest expense proved heavy when oil prices fell in 1986.

And all the cash generated by the company to pay off that interest expense would have been just $227 million.

Together, the lower employee costs and reduced interest expense would save about $400 million a year.

Revenue excluding interest expenses fell 15 percent, to $1.7 billion.

The company said it also benefited from lower interest expenses and other cost reductions.

Were it not under court protection, Macy's interest expenses would have been $123.2 million.

Interest expenses rose by $10 million for the period.

The debt restructuring will reduce the bank's interest expense by $17 million a year, bank officials said.

The company generated enough cash flow in the last 12 months to cover its interest expense 11 times.

In that context, a further annual interest expense of $17.5 million could loom large.

As a result, the company's debt is twice its equity and it has heavy interest expenses.