(Source: Datamonitor)
Frontier Oil, engaged in crude oil refining and the wholesale marketing of refined petroleum products, has reported a net income of $73.5 million, or $0.70 per diluted share, for the first quarter ended March 31, 2009, compared to $46 million, or $0.44 per diluted share, for the same period of 2008.
The company has reported revenues of $846.25 million for the first quarter ended March 31, 2009, compared to $1.18 billion for the same period of 2008.
Frontier Oil has reported an operating income of $119.91 million for the first quarter ended March 31, 2009, compared to $73.84 million for the same period of 2008.
Mike Jennings, president and CEO of Frontier Oil, said: "Our first quarter financial performance provided a strong start in what we expect to be a challenging year for the refining sector. Gasoline demand appears to have stabilized or marginally improved, while distillate consumption continues to weaken with the economy."
A service of YellowBrix, Inc.
