Huntway Partners Reports Profit in 2nd Quarter

Huntway Partners L.P., a Valencia company that processes crude oil into liquid asphalt, reported a second-quarter profit following a year-earlier loss.

In the three months that ended June 30, Huntway earned $1.25 million, compared with a loss of $2.29 million in the second quarter of 1995. Its quarterly revenue rose 24%, to $26.1 million from $21.1 million.

For the first half of 1996, Huntway reported that its loss narrowed to $968,000 from a loss of $5.67 million a year before. Its revenue increased 30%, to $43.3 million from $33.3 million.

Huntway said the improved results reflected better operating margins on all its products. In particular, it said, prices for its “light-end” products rose in the second quarter as wholesale gasoline and diesel prices increased.