Southland Corp. posted net income of $49.7...

Southland Corp. posted net income of $49.7 million, down from $183.8 million a year ago. The Dallas-based company said the year-ago period included an $84.2-million after-tax gain from the sale of 50% of Citgo. The company said its convenience store sales through its 7-Eleven and High’s Dairy outlets increased 11.5%. In addition, retail gasoline sales were also up strongly, and sales and profits were up at Chief Auto Parts, Southland Dairies, Tidel Systems, the snack foods division, Reddy Ice and Southland Chemical/Food Labs. Southland’s revenue grew 11.8% to $2.3 billion.