Crystal Oil Co. reports financial results.SHREVEPORT Shreveport (shrēv`pôrt), city (1990 pop. 198,525), seat of Caddo parish, NW La., on the Red River near the Tex. and Ark. lines; inc. 1839. , La.--(BUSINESS WIRE)--May 7, 1997--Crystal Oil Co. (AMEX AMEX See: American Stock Exchange :COR cor (kor) [L.] heart. acute cor pulmonale acute overload of the right ventricle due to pulmonary hypertension, usually due to acute pulmonary embolism. ) today reported the operating results for the three months ended March 31, 1997 and 1996. -0-
Crystal Oil Co.
Financial Highlights
Three Months Ended
March 31
1997 1996
Revenues $ 4,464,000 $ 4,506,000
Income before provision for income taxes 1,303,000 1,203,000
Net income 814,000 743,000
Income per common share .31 .28
Weighted average of common shares
outstanding 2,665,622 2,654,375
March 31, Dec. 31,
1997 1996
Current assets $ 60,889,000 $ 63,605,000
Marketable securities 6,458,000 2,999,000
Property, plant and equipment 92,174,000 92,965,000
Other assets 9,434,000 10,024,000
Total assets $168,955,000 $169,593,000
Current liabilities $ 1,543,000 $ 1,577,000
Long-term obligation 36,588,000 36,879,000
Deferred revenues 16,734,000 17,861,000
Stockholders' equity 114,090,000 113,276,000
Total liabilities & stockholders' equity $168,955,000 $169,593,000
Crystal Oil Co. is an acquisition company that currently owns and operates through wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. a natural gas storage facility in Hattiesburg Hattiesburg, city (1990 pop. 41,882), seat of Forrest co., SE Miss., on the Leaf River; inc. 1884. It is the rail, trade, and industrial center of a farm and timber area. , Miss., and holds various interests in oil and gas properties in Texas and Louisiana Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. . The company actively reviews
acquisition opportunities, both within and outside the energy industry,
with a focus on acquisitions that will maximize the return on the
company's existing capital resources and benefit from the
company's large net operating loss carryforwards Net operating loss carryforwardsApplication of losses to offset earnings in future years. and tax benefits. CONTACT: Crystal Oil Co. Jeff Ballew, 318/222-7791 |
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