$Stock*Shop*Charts*News*Option$

[EZ2]

Paper gains drive Berkshire's profit skyward


Feb 27, 8:27 AM (ET)

By JOSH FUNK

OMAHA, Neb. (AP) - Berkshire Hathaway Inc. delivered a fourth-quarter profit more than 25 times higher than the previous year thanks largely to an unrealized $1 billion gain on derivative contracts and investments.

Warren Buffett's company said Saturday that its insurance and utility divisions also performed well and helped offset weakness in subsidiaries tied to the economy, such as NetJets, Acme Brick and other manufacturing and retail businesses.

Berkshire generated $3.056 billion in net income, or $1,969 per Class A share, during the quarter. That's up from $117 million net income, or $76 per share, a year ago.

The three analysts surveyed by Thomson Reuters had expected Berkshire to report fourth-quarter earnings per share of $1,208.33 on average.

---

On the Net:

Berkshire Hathaway Inc.: http://www.berkshirehathaway.com