USX Corp., Pittsburgh, reported sharply higher earnings...

USX Corp., Pittsburgh, reported sharply higher earnings for the fourth quarter and year, reflecting a rebound in the steel industry and a steady performance by its energy units despite lower crude oil prices. Fourth-quarter income was $158 million, after a loss of $14 million in the year-ago period. Sales edged up to $4.4 billion from $4.3 billion. Profit for the year surged to $756 million from $219 million; sales rose to $16.9 billion from $14.9 billion. Parsippany, N.J.-based Armco Inc., another major steelmaker, said its fourth-quarter net jumped to $32 million from $3.1 million the prior year. It cited the strength of its steel operations for its gain. Sales rose to $831 million from $787 million. For the year, Armco earned $145.4 million on sales of $3.23 billion, compared to a profit of $117.6 million on sales of $2.93 billion.