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Holly Corp announces net income of USD23.5m for third quarter 2009

Nov 06, 2009 (M2 EQUITYBITES via COMTEX) --

Company: Holly Corp. (HOC)

Petroleum refiner Holly Corp (NYSE:HOC) declared on Thursday that net income attributable to its stockholders was USD23.5m (USD0.47 per basic and diluted share) for the third quarter 2009. A This is a drop of USD26.4m compared to USD49.9m (USD1.00 per basic and diluted share) for the same period of 2008, reportedly due to industry-wide reduced refinery gross margins in the third quarter of 2009 relative to the high levels in the third quarter of 2008.

Sales and other revenues for the third quarter 2009 were USD1,490.4m, a decline of 13% compared to the three months ended 30 September 2008. A This decline in revenues was due to the effects of a 42% decline in year-over-year third quarter sales prices of produced refined products sold, partially offset by a 63% current quarter increase in volumes of refined products sold over the same period in 2008. 

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Company: Holly Corp. (HOC)


Related terms: nyse, petroleum, prices, products, refinery, sales

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