Manufacturing Industry
CONOCO HAS ANOTHER RECORD QUARTER.
Advanced Materials & Composites News, May, 2001
Conoco (NYSE:COCA) (NYSE:COCB) said that stronger global natural gas prices, healthy refining margins and higher crude oil sales volumes produced record results for the fifth consecutive quarter. Net income before special items for the quarter was $616 million, or 97 cents per share, 58 percent above the $391 million, or 62 cents per share, earned last year.
Net income increased to $653 million, or $1.03 per share, up 64 percent from $399 million, or 63 cents per share, earned during the same period last year. Revenue for the quarter totaled $10.6 billion, up 22 percent from $8.7 billion last year. In the emerging businesses segment, Conoco signed a 10-year, $17.5 million agreement with Honeywell for automation of the carbon fibers plant under construction in...
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