Tesoro Corp. (TSO) reported a fourth quarter net loss of $179 million, or $1.30 per share, compared to net earnings of $97 million or $0.70 per share for the fourth quarter of 2008. The company's fourth quarter results include a non-cash charge of $43 million for a goodwill impairment related to the Anacortes refinery. Adjusted net loss for the latest quarter was $136 million, or $0.99 per share.
Revenues for the quarter were $4.67 billion, up from $4.24 billion in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.92 per share on revenues of $4.71 billion. Analysts' estimates typically exclude special items.
Tesoro announced it will suspend its quarterly dividend for the foreseeable future in order to preserve cash and keep a healthy balance sheet.
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