11:56 AM EST - Canadian Natural Resources Ltd. : reported that profit for the fourth quarter soared from last year, boosted by unrealized gains from risk management activities, despite lower revenues, and fall in natural gas pricing. On an adjusted basis, earnings rose from last year, and came in above analysts' expectations. The company further provided its first quarter and fiscal year 2009 production forecasts. The Calgary-based company reported net earnings of $1.77 billion or $3.27 per share for the fourth quarter, that soared from $798 million or $1.48 per share in the prior-year quarter. The results for the latest quarter primarily include net unrealized after-tax income of $1.03 billion related to the effects of risk management activities, foreign exchange losses and stock-based compensation recovery, while prior-year results included $252 million of the same income. Canadian Natural Resources Ltd.
shares T.CNQ are trading up $1.81 at $40.35.
