Fortune Petroleum Posts $50,000 Profit in Quarter
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Fortune Petroleum Corp., a small energy concern in Agoura Hills, posted a second-quarter profit of $50,000, compared with a year-earlier loss of $94,000.
The profit in the quarter ended June 30 came on an 88% surge in Fortune’s revenue, to $586,000 from $311,000 a year earlier. Fortune attributed the profit to the revenue gain and lower overhead costs.
For the first half of 1992, Fortune earned $52,000, compared with a $142,000 loss a year earlier, and its six-month revenue jumped 58%, to $985,000 from $624,000.
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