UPDATE 1-Pioneer Natural posts Q4 profit

* Q4 EPS $0.48 vs. loss $0.60/shr yr-ago

* Q4 revenue down 1 pct at $463.7 mln

* Sees 2010 capital spending of $800 mln-$900 mln

Feb 2 (Reuters) - Oil and gas company Pioneer Natural Resources Inc (PXD.N) swung to a fourth-quarter profit, helped by lower production costs, and said it will resume double-digit production growth in 2011.

"We expect to generate quarterly production growth in 2010 and thereby increase production by at least 10 percent between the fourth quarter of 2009 and the fourth quarter of 2010," Chief Executive Scott Sheffield said in a statement.

Fourth-quarter net income attributable to common stockholders was $56.7 million, or 48 cents a share, compared with loss of $69.4 million, or 60 cents a share, in the year-ago quarter.

Excluding items, the company earned 80 cents a share.

Revenue was down 1 percent at $463.7 million.

Fourth-quarter production costs were 22 percent lower per barrels of oil equivalent than a year earlier.

The company said first-quarter production is expected to average 112,000 to 117,000 barrels of oil equivalent per day.

Pioneer shares were trading up by 1 percent at $47.47 after the bell. They closed at $46.78 Tuesday on the New York Stock Exchange.

For the alerts double-click [ID:nWNAB1935] (Reporting by Arundhati Ramanathan in Bangalore; Editing by Anne Pallivathuckal)