Dallas-based LTV Corp. said its profit rose...

Dallas-based LTV Corp. said its profit rose 12.7% to $163.9 million in the first quarter from a year earlier, boosted by gains from the company’s reorganization under Chapter 11 of the federal bankruptcy laws. The diversified steel and aerospace giant said its first-quarter earnings included a one-time special credit of $24.8 million resulting from the sale of two iron ore vessels. The rise in net income occurred despite a decline in first-quarter revenue to $1.88 billion from $1.91 billion a year earlier.