Huntway Partners Says Loss Reduced in Quarter
- Share via
Huntway Partners L.P., a Valencia producer of liquid asphalt and other products refined from crude oil, reported that it narrowed its loss in the fourth quarter ended Dec. 31 from a year earlier, and turned a profit for all of 1991.
In the latest three-month period, Huntway lost $736,000, in contrast with a year-earlier loss of $11.7 million. Revenue, however, fell 20% to $26.9 million from $33.6 million.
Huntway said the latest quarterly loss was in line with that of other companies in the refining industry, which suffered from softening prices of crude oil and refined products. The loss also included write-offs of $216,000 for uncollectible accounts.
In all of 1991, Huntway earned $3.02 million on revenue of $115.8 million. Huntway lost $14.5 million in 1990 on $119.6 million in revenue.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
