MORRISON KNUDSEN &lt;MRN> SEES YEAR NET FALLING

  Morrison Knudsen Corp said its
  earnings for 1987 are likely to be lower than those for 1986
  due to lower than expected growth in engineering and
  construction and a previously-predicted decline in earnings of
  its National Steel and Shipbuilding unit.
      The company earned 39.4 mln dlrs in 1986, including pretax
  gains of 11.5 mln dlrs from pension income and 7,400,000 dlrs
  from the settlement of vested pension obligations, down from
  41.5 mln dlrs in 1985.
      It said "Lower than expected levels of new work booked in
  the last quarter of 1986 and the first two-plus months of this
  year have delayed the expected growth in the engineering and
  construction area."  The company said it will remain profitable
  in 1987 and results should strengthen as the year progresses. 
  It attributed the decline in new work to more stringent bidding
  standards and a competitive market.
  

