Frontier Oil Corp.'s (FTO) fourth-quarter net income fell to $43.4 million, or 41 cents a share, from $52.4 million, or 47 cents a share, a year earlier. A Thomson Financial survey of analysts, on average, projected earnings of 46 cents a share for the quarter.
The Houston refiner's fourth-quarter results included a hedging loss of $31.5 million, or 30 cents a share, compared with the gain of $6.9 million, or 6 cents a share, a year ago. Revenue rose to $1.32 billion from $1.09 billion a year ago.
FTO is up 1.01 to $38.65 right now.
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