August 20, 1991
H&H Oil Tool Co. Inc., a Santa Paula company that rents oil drilling and production equipment, reported that its earnings plunged to $13,000 in the second quarter that ended June 30 as domestic oil field activity declined. A year earlier, H&H earned $394,000. The lower earnings came despite an 8% gain in the company's revenue, to $6.13 million from $5.68 million. In the six months that ended June 30, H&H's profit slipped 1%, to $398,000 from $402,000 in the same period a year before.