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Article: Phillips Net Income Down 84.6% for Year / Up for Quarter
- Article from:
- THE JOURNAL RECORD
- Article date:
- January 29, 1988
- Author:
CopyrightCopyright (null) The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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A 84.6 percent decrease in net income to $35 million, or 6 cents per
share, was reported Thursday for 1987 by Phillips Petroleum Corp. of
Bartlesville.
The net income for the year is down from net income of $228
million, or 89 cents per share, in 1986. Revenues for 1987 totaled
$10.9 billion, up 9 percent from $10 billion in 1986.
For the fourth quarter of 1987, Phillips reported net income of
$33 million, or 12 cents per share, up 200 percent from $11 million,
or 2 cents per share, in the fourth quarter 1986. Revenues for the
fourth quarter totaled $2.93 billion, up 23.1 percent from $2.38
billion in the fourth quarter of 1986.
Higher crude oil prices and the continued strong ...