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Range Resources Turns To Profit In Q4

Range Resources Corp. (RRC) reported that its fourth-quarter net income was $38.40 million or $0.15 per share compared to a net loss of $1.81 billion or $7.27 per share in the prior year.

Abandonment and impairment of unproved properties was $2.73 million compared to $1.19 billion in the prior year.

On a non-GAAP basis, net income was $0.02 compared to $0.08 in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues and other income for the fourth-quarter declined to $598.89 million from $605.60 million in the prior year. Analysts expected revenue of $497.57 million for the quarter.

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