12:01 PM EST - Talisman Energy, Inc. : reported a surge in profit for the fourth quarter, helped by derivative contracts, despite volatile commodity prices during the period. The Calgary-based company reported fourth-quarter net income of $1.202 billion or $1.17 per share that surged from $656 million or $0.63 per share reported for the corresponding period in the previous year.Fourth-quarter net income from continuing operations soared to $1.197 billion or $1.17 per share from $297 million or $0.29 per share in the same period last year. Earnings from continuing operations, a non-GAAP measure, increased to $537 million or $0.53 per share from $123 million or $0.12 per share in the previous year. On average, four analysts polled by Thomson Reuters expected earnings of $0.13 U.S. per share for the quarter. Analysts' estimates typically exclude special items. Talisman Energy, Inc.
shares T.TLM are trading down $0.03 at $11.45.
