UPDATE: Talisman Posts Q4 Profit

Talisman Energy

reported a profit in the fourth quarter. Its cash flow dropped to $675 million, or $0.66 per share, from $824 million, or $0.81 per share, in the year-ago period. Its production declined 11% to 392,000 barrels of oil equivalent per day. Talisman Energy's posted a quarterly net income of $376 million, or $0.37 per share, versus a year-ago loss of $117 million, or $0.11 per share. Excluding one-time items, Talisman posted a loss of $0.10 per share. Talisman Energy shares closed at $12.51 yesterday.