UPDATE 1-Frontier Oil posts wider-than-expected Q4 loss

* Q4 loss $0.72/shr $ vs. est loss $0.47/shr

* Revenue down 19 percent

* Does not expect a near-term recovery for the industry

Feb 25 (BestGrowthStock) – Oil refiner Frontier Oil Corp (FTO.N: )
posted a wider-than-expected quarterly loss, hurt by lower
refining margins and lower production due to a planned
maintenance, and said it does not expect a near-term recovery
for the refining industry.

“Weak demand for refined products, particularly
distillates, and narrow crude differentials were the primary
contributors to the fourth quarter results,” the company said
in a statement.

Net loss for the fourth quarter was $75.1 million, or 72
cents a share, compared with a net income of $119.0 million, or
$1.15 a share, in the year ago quarter.

Revenue fell 19 percent to $1.09 billion.

Analysts, on average, were expecting a loss of 47 cents a
share, before special items, on revenue of $1.10 billion,
according to Thomson Reuters I/B/E/S.

Shares of the company closed at $12.80 Wednesday on the New
York Stock Exchange.

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(Reporting by Hezron Selvi in Bangalore; Editing by Jarshad
Kakkrakandy)

UPDATE 1-Frontier Oil posts wider-than-expected Q4 loss