Phelps Dodge reported net income of $6.6...

Phelps Dodge reported net income of $6.6 million during the final three months of 1985 and said it posted an annual profit for the first time in four years. Phelps Dodge, the nation’s largest copper producer, credited a corporate restructuring and cost- cutting programs for helping to offset continued weakness in world copper prices. The company said that throughout the year copper prices averaged 61 cents a pound on the New York Commodity Exchange, compared to 61.3 cents a pound in 1984 and about 90 cents a pound in 1980.

For detailed data and results of other companies, please see accompanying tables.