03:55 PM EST - Teck Resources Ltd. : announced that its fourth-quarter net earnings were $411 million or $0.70 per share, compared to a loss of $607 million or $1.28 loss per share in the same period last year. Net earnings in the fourth quarter included positive after-tax pricing adjustments of $58 million and an after-tax gain of $134 million from the sale of its interest in the Morelos gold project in Mexico. Partly offsetting these items were asset impairment charges of $68 million on an after-tax basis related to its oil sands projects. The loss in 2008 included asset impairment charges of $844 million and negative pricing adjustments of $270 million on an after-tax basis. The company said that adjusted net earnings were $312 million in the quarter compared to $130 million in 2008 as a result of higher base metal prices offset by significantly lower coal prices and the effects of a stronger Canadian dollar. Revenues from operations were $2.17 billion in the fourth quarter compared to $1.60 billion a year ago. Teck Resources Ltd.
shares T.TCK.A are trading up $1.30 at $37.00.
