RE: EARNINGS ARE UP 10 X LOOK AT THIS
EL PASO, Texas, Mar 01, 2006 (BUSINESS WIRE) --
Western Refining, Inc. (NYSE: WNR) ("Western" or the "Company") today reported net income of $69.0 million for the quarter ended December 31, 2005, compared to $7.6 million for the comparable period in 2004. For the year ended December 31, 2005, net income was $201.1 million versus $67.5 million for the prior year. Reported amounts reflect the historical operating results of Western Refining Company, L.P., which became a subsidiary of the Company following the Company's initial public offering in January 2006. Net income does not include a provision for income taxes as Western Refining Company, L.P. was an operating partnership during these periods that was not directly subject to income taxes.