Tejon Ranch Co. The agricultural and land...
From Times Staff and Wire Reports
Tejon Ranch Co. The agricultural and land management firm said its net income for 1989, including continuing and discontinued operations, fell 78% to $2.58 million. The company, in which Times Mirror Co. owns a substantial interest, sold its seed division, which accounted for $6.1 million of 1988 after-tax profit. Net income from continuing operations in 1989, however, totaled $2.45 million, up 78% from 1988. Revenue from continuing operations climbed 23% to $17.326 million. The Lebec, Calif., company said income from continuing operations improved primarily because of increased farming revenues, the receipt of a cash payment associated with the settlement of a gas line right-of-way issue and increased interest income.
