UPDATE: Quicksilver Resources Posts Downbeat Q4 Profit

Quicksilver Resources Inc KWK posted a weaker-than-expected adjusted fourth-quarter profit. Quicksilver Resources' quarterly net profit dropped to $49 million, or $0.28 per share, from $332 million, or $1.82 per share, in the year-ago period. Its revenue declined 10% to $216 million. Excluding items, Quicksilver Resources broke even. However, analysts were expecting earnings of $0.01 per share on revenue of $217.1 million. Quicksilver Resources shares closed at $6.08 on Friday.