CALUMET INDUSTRIES <CALI> SEES 2ND QTR LOSS
Calumet Industries Inc said it expects
to report a loss from operations for its second quarter ending
March 31, despite a strong unit sales increase.
    In the same year-ago period the company reported net income
of 366,953 dlrs, or 18 cts a share.
    Chairman S. Mark Salvino said the expected loss is
primarily due to depressed product prices not recovering the
increasing cost of crude oil.
    Salvino also said steadier crude prices and the reduced
rate of refinery production should increase product prices and
lead to a return to more normal profit margins.
    He reported that the 23 mln dlr HydroCal II system under
construction at the company's refinery in Princeton, La., is on
schedule and production will begin early in fiscal 1988.
 Reuter
