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H H Oil Tool Co Inc

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BUSINESS
November 19, 1991
H & H Oil Tool Co., citing a downturn in U.S. oil-field drilling, said it lost $892,000 in the third quarter, contrasted with a year-earlier profit of $429,000. The loss came on a 10% drop in H & H's revenue in the quarter that ended Sept. 30, to $5.63 million from $6.29 million a year earlier. The Santa Paula-based provider of energy drilling and production equipment blamed "a sharp decrease in domestic oilfield activity" in the latest quarter, in part because of lower natural-gas prices.
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BUSINESS
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.
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