O.C. EARNINGS
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Petrominerals Corp.: The Tustin crude-oil and natural-gas company reported a profit of $794,000, or 10 cents a share, for 1992, contrasted with a loss of $916,000, or 12 cents a share, for 1991. The company said the major contributing factor to 1992’s income was a $1.1-million reduction of the company’s deferred income tax liability, with a corresponding credit to income tax expense. Revenue for the year dropped 27% to $6.4 million from $8.8 million.
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