Accounts filed by the Williams Formula One team show it's not losing as much money but is still heavily in the red.
Last year's loss was just under $57 million, compared with nearly $74 million the previous year and a profit of $93 million in 2005 - although that figure was inflated by deferred taxation and a one-off compensation payment for releasing Jenson Button to Honda.
The winners of 113 grands prix and nine constructors' championships since 1979 are the only team not to be owned either wholly or in part by a car manufacturer or a billionaire.
Chief executive Adam Parr says the 2005 and 2006 figures need to be taken together to show a more normal break-even over the period.
And he says there'll be a reduction in debt this year despite global financial market turmoil.
