HOUSTON (AP) - Anadarko Petroleum says its first-quarter profit fell 83
percent from a year ago, when the company's results included nearly $1.7 billion
in asset sales gains.
Anadarko, one of the nation's largest independent exploration and production
companies, says its profit for the quarter ended March 31 totaled $286 million,
or 61 cents a share, compared with $1.7 billion, or $3.70, a year earlier.
Revenue fell to $2.9 billion from $5.2 billion, the company said Monday.
Net income in the most-recent quarter was reduced by about $440 million, or
94 cents a share, by one-time items.
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