Tosco Corp. reported net income for 1988...

Tosco Corp. reported net income for 1988 jumped 71% to $90.4 million on revenues of $1.14 billion, down 4% from 1987. The Santa Monica-based independent oil refiner said the year-end results represented the highest earnings from operations since 1979, and that the improvement in 1988 was primarily due to a significant increase in refining margins.