Halliburton 4Q profit jumps 50 pct

[January 23, 2012]  NEW YORK (AP) -- Halliburton is reporting that its net income jumped nearly 50 percent in the final three months of 2011 as rising oil prices sparked new drilling projects.

The Houston company posted earnings of $906 million Monday, or 98 cents per share, for the fourth quarter. That compares with $605 million, or 66 cents per share, for the same part of 2010.

Excluding a $15 million charge, Halliburton earned $1 per share in the quarter. Revenue increased 36.9 percent to $7.06 billion.

For the full year, Halliburton Co. earned $2.84 billion, or $3.08 per share, compared with $1.84 billion, or $2.02 per share, in 2010. Annual revenue increased 38.1 percent to $24.8 billion.

[Associated Press; By CHRIS KAHN]

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