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Fort Worth-based XTO Energy (NYSE: XTO) postexd a profit of $351 million, or 61 centss per share in the mostreceng quarter, down from $464 million, or 95 cents per share, for the same quartetr in 2007. Still, the company posted a 23 percent jump in revenu e as compared to the same quarterof 2008. XTO’sd revenue hit $1.96 billion in the fourt quarter oflast year, up $1.59 billion from the previouss year. For the entire 2008 fiscal year, XTO Energh reported earnings of $1.91 billion, or $3.60 per share, up from $1.609 billion, or $3.58 per share.
The company’d chairman and founder, Bob called 2008 a record year for shareholderx as daily production increased 28 percent and proveb reserves grew 23 Looking ahead, XTO has hedged 80 percentr of its projected production volumes for $10.70 per Mcfe, the company said. XTO’s stock price fell about 5 percenr Thursday morning as investors learnedthe company, while still profitable, posted earnings in a range that is lowe r than the estimated 78-cent per share rangew originally projected for the fourthy quarter of 2008.
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