Petro Stopping Centers posted a second quarter loss of $899,000 on revenues of $239.3 million.
In second quarter 2000 the company had net income of $3.5 million on revenues of $231.1 million.
The company blamed lower operating income and higher interest expense, including the write-off of certain deferred debt issuance costs.
For the first six months of the year, Petro had a loss of $4 million on revenues of $476.2 million, compared to net income of $4.5 million on revenues of $455.6 million.
Chairman and CEO Jack Cardwell said that “tough economic conditions” this year have made it difficult to exceed last year’s results, but the company is focused on operating as efficiently as possible and is “prepared to capitalize on a rebound in the economy.”
In second quarter 2000 the company had net income of $3.5 million on revenues of $231.1 million.
The company blamed lower operating income and higher interest expense, including the write-off of certain deferred debt issuance costs.
For the first six months of the year, Petro had a loss of $4 million on revenues of $476.2 million, compared to net income of $4.5 million on revenues of $455.6 million.
Chairman and CEO Jack Cardwell said that “tough economic conditions” this year have made it difficult to exceed last year’s results, but the company is focused on operating as efficiently as possible and is “prepared to capitalize on a rebound in the economy.”
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