
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, March 23, 1991                   TAG: 9103230231
SECTION: BUSINESS                    PAGE: A-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

GETTY CORP. REPORTS $9.5 MILLION LOSS

Getty Corp., operator of a chain of Getty Marts convenience stores based in Roanoke, reported Friday that it lost $9.5 million or 74 cents a share for the fiscal year ending Jan. 31, compared with net earnings of $23 million or $1.75 a share a year earlier.

The Jericho, N.Y., company blamed part of the loss on lower gasoline margins during the Persian Gulf crisis. Revenues were $1.26 billion, up 6.7 percent from $1.18 billion a year earlier, the company said.

In its fourth quarter, Getty said revenues rose 15 percent to $372.3 million and net income rose 34 percent to $15.5 million, or 74 cents per share.

The company said a subsidiary, Getty Terminals Corp., Friday was fined $400,000 for a 1990 conviction for conspiring to evade gasoline excise taxes in 1985. The company said it will appeal the conviction.

- Staff report

by CNB