Tosco’s earnings were down sharply to $10.7...
Tosco’s earnings were down sharply to $10.7 million in the second quarter from $53.7 million in the year-ago period. The Santa Monica firm said profit margins from refining did not materialize. The company also announced it has entered into a new, 18-month, $75-million credit agreement with a five-member bank group led by the First National Bank of Boston. Revenue was up during the quarter, to $300.5 million.
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