Reynolds Metals reported second-quarter net income of...

Reynolds Metals reported second-quarter net income of $28.8 million, compared to net income of $4.9 million in the same period of 1985. Net results of the latest quarter included an extraordinary credit of $10.6 million resulting from the use of prior-year tax-loss carryforwards, while 1985 second-quarter net results included a tax-loss carryforward credit of $1.3 million. William O. Bourke, president and chief executive, attributed the company’s improved results in the second quarter to stronger volume, a better product mix and higher ingot prices.