Petrolane Gas Service LP: The New York...
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Petrolane Gas Service LP: The New York distributor of liquefied petroleum gas said first-quarter net income plunged 82% to $6.4 million, while revenue gained 10% to $249.7 million. The firm said results were adversely affected by extraordinarily warm weather in the first quarter, higher unit cost of propane and higher interest expense from debt to finance its acquisition last Aug. 1 by QFB Partners, a general partnership formed by affiliates of Quantum Chemical Corp. and CS First Boston Inc.
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