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Article: Ultramar Diamond Shamrock Corporation Announces 2nd Quarter Results.
- Article from:
- Business Wire
- Article date:
- July 30, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN ANTONIO--(BUSINESS WIRE)--July 30, 1998--Ultramar Diamond Shamrock Corp. (NYSE:UDS) today reported net income before special items of $60.7 million, or $0.68 per basic share, for the second quarter of 1998, compared to $46.3 million, or $0.60 per basic share, for the second quarter of 1997.
The second quarter results include a one-time pre-tax charge of $131.6 million ($79.1 million after-tax and $0.88 per basic share) to restructure the company's retail marketing, refining and pipeline operations and support services as announced on June 9, 1998.
In addition, a one-time pre-tax charge of $11.2 million ($6.7 million after-tax and $0.08 per ...