Teekay Corporation reported fourth-quarter net income of $38.2 million, after reporting a loss in the same period a year earlier.
The Hamilton, Bermuda-based company said it had net income of 52 cents per share. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.
The oil and gas shipping company posted revenue of $663.8 million in the period.
For the year, the company reported net income of $82.2 million, or $1.12 per share, swinging to a profit in the period.
Revenue was reported as $2.33 billion.
Teekay shares have fallen 32 percent since the beginning of the year. The stock has dropped 86 percent in the last 12 months.
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