http://money.cnn.com/services/tickerheadlines/for5/200601271007DOWJONESDJONLINE000707_FORTUNE5.htmSAN FRANCISCO (Dow Jones) -- Halliburton Co. on Thursday reported more than $1 billion in fourth-quarter net income, helped by a $540 million tax gain and strong sales despite less work for its KBR unit in Iraq.
The Houston-based company's (HAL) net earnings totaled $1.102 billion, or $ 2.08 a share. The company said that $540 million, or $1.02 a share, of that profit was related to a lower, deferred tax-asset valuation allowance related to its asbestos and silica settlement.
Halliburton effectively had set aside more money than it needed for the settlement.
A year ago, the company lost $203 million, or 46 cents a share, including an 86-cent charge for the asbestos and silica settlement. Excluding that charge, Halliburton earned $181 million, or 40 cents a share, in the year-ago period.
more.....