June 2007 -- On Feb. 1, 2007, Valero Energy Corp. reported fourth quarter net income of $1.1 billion, or $1.80 per share, which compares with $1.3 billion, or $2.06 per share, in the fourth quarter of 2005. Excluding pre-tax gains from sales of ownership interests, the company's fourth quarter 2006 net income was $987 million, or $1.59 per share, compared to $1.3 billion, or $2.00 per share, in the fourth quarter of 2005.
For the year ended Dec. 31, 2006, the company's reported net income was $5.5 billion, or $8.64 per share, versus $3.6 billion, or $6.10 per share, in 2005. Excluding all special items for each year, net income for 2006 was $5.3 billion, or $8.30 per share, and for 2005 was $4.0 billion, or $6.76 per share.
Fourth quarter 2006 operating income was $1.5 billion, compared with $2.0 billion achieved in the same period last year, a record amount which was positively impacted by Hurricanes Katrina and Rita.
"This was the best fourth quarter we've ever seen for refining margins other than in last year's fourth quarter, when margins were affected by the hurricanes," said Bill Klesse, Valero's chairman of the board and CEO.
For further financial information visit http://www.valero.com/InvestorRelations/.
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