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Article: Lyondell Petrochemical Company reports earnings for first-quarter 1990.
- Article from:
- PR Newswire
- Article date:
- April 20, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. 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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LYONDELL PETROCHEMICAL COMPANY REPORTS EARNINGS FOR FIRST QUARTER 1990
HOUSTON, April 20 /PRNewswire/ -- Lyondell Petrochemical Company (NYSE: LYO) today reported net income for the first quarter of 1990 of $78 million, or $.98 per share, on sales of $1.5 billion.
Bob G. Gower, president and chief executive officer of Lyondell Petrochemical Company, said, "We are pleased to report that Lyondell's earnings in the first quarter of 1990 represent a 22 percent increase from the fourth quarter of 1989. This was due primarily to higher refining margins and higher ethylene sales volumes, which more than offset slightly lower ethylene margins.
"We ...