Spectra Energy Corp. Q4 Earnings Drop 40%

(RTTNews) - Spectra Energy Corp. (SE) released a profit for fourth quarter that dropped compared to the same period last year.

The company said its bottom line declined to $189 million, or $0.28 per share. This was lower than $316 million, or $0.47 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.32 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 17.5% to $1.32 billion. This was down from $1.60 billion last year.

Spectra Energy Corp. earnings at a glance:

-Earnings (Q4): $189 Mln. vs. $316 Mln. last year. -Earnings Decline (Y-o-Y): -40.2% -EPS (Q4): $0.28 vs. $0.47 last year. -EPS Decline (Y-o-Y): -40.4% -Analysts Estimate: $0.32 -Revenue (Q4): $1.32 Bln vs. $1.60 Bln last year. -Revenue Change (Y-o-Y): -17.5%