Petrominerals’ Net Income Rises

Petrominerals Corp., the Tustin oil and natural gas company, posted net income of $363,000 for 1990, contrasted with a year-earlier loss of $198,000. Revenue rose 22% to $7.8 million from $6.4 million.

Everett L. Hodges, president and chief executive, attributed the improved results primarily to an increase in oil prices, as well as higher revenue from oil well services.