The company halved the debt of Krotz Springs refinery with a $193.2 million reduction.
Alon Israel Oil Company Ltd. subsidiary Alon USA Energy Inc. (NYSE:ALJ) yesterday published its financial report for the second quarter of 2009. Despite losses, the company will distribute a profit of $0.04 per share.
Alon USA posted a net loss of $15.3 million ($0.33 per share) for the second quarter, compared with a net profit of $18.2 million for the corresponding quarter. Non-GAAP net loss narrowed to $14.4 million ($0.31 per share) for the second quarter from $59.7 million for the corresponding quarter.
Alon US president and CEO Jeff Morris noted that the company had $177.4 million in operating revenue. He added that the company halved the debt of Krotz Springs refinery with a $193.2 million reduction.
Alon USA's share closed at $10.50 yesterday, giving a market cap of $475 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 6, 2009
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