Encana Corp. (ECA: Quote,ECA.TO: Quote) reported a narrower fourth-quarter 2011 net loss of $246 million versus year-ago quarter's $469 million loss. In the fourth quarter of 2011, the company said its net earnings were impacted by a non-cash asset impairment of $854 million after tax, compared with $371 million after tax in the 2010 period triggered by lower forecasted natural gas prices and a change in future development plans.
Operating earnings amounted to $46 million or $0.06 per share, compared with $50 million or $0.07 per share in the prior-year quarter. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.09 for the quarter. Analysts' estimates typically exclude one-time items.
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by RTT Staff Writer
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