Tosco Corp.: The Stamford, Conn.-based company reported...
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Tosco Corp.: The Stamford, Conn.-based company reported fourth-quarter net income of $13.6 million, up 438% from a year ago. Revenue was $635.8 million, a 49.8% jump. For the year, earnings were $123.2 million, up 204%. Revenue was up 49% to $2.16 billion. The firm, which refines petroleum and makes fertilizer, said results include a $13-million onetime gain in the fourth quarter due to accounting treatment of lower petroleum inventories.
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