Chesapeake Energy posts lower profit
Posted 11-05-2012 at 07:10 AM by marcitize12
Chesapeake Energy posts lower profit (6:00 PM ET) SAN FRANCISCO (MarketWatch) -- Chesapeake Energy Corp. (US:CHK) , the largest independent U.S. natural gas producer, reported late Thursday fourth-quarter net income of $303 million, falling from $471 million a year ago. After paying preferred stock dividends and including losses on the conversion of preferred stock, per-share earnings fell to 33 cents from 96 cents. Excluding one-time items, the company earned $466 million, or 93 cents a share, from ongoing operations.
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