|
|
Article: KERR-MCGEE REPORTS NET INCOME IN FOURTH QUARTER/DESPITE LOSS FOR YEAR
- Article from:
- THE JOURNAL RECORD
- Article date:
- February 3, 1987
- Author:
CopyrightCopyright (null) The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
|
A return to profitability with a net income of $8.8 million, or 18
cents per common share, was reported Monday for the fourth quarter by
Kerr-McGee Corp., despite a 1986 loss stemming primarily from third
quarter special charges.
The fourth quarter net income was down 68 percent from the net
income of $27.6 million, or 55 cents per share, for the fourth
quarter of 1985. Sales were $588.8 million, down 35 percent from
$899.5 million a year ago.
"Net income for the fourth quarter, while not as strong as we
would like, showed a positive trend from our third quarter," said
Frank A. McPherson, chairman and chief executive officer of
Kerr-McGee. "We remain optimistic about the recent ...