Forest Oil 4th-qtr profit falls on items

NEW YORK, Feb 21 (Reuters) - Natural gas production company Forest Oil Corp (FST.N: Quote, Profile, Research, Stock Buzz) on Thursday reported a 10 percent fall in quarterly profit, burdened by derivative losses and lower deferred tax liabilities.

Net profit in the fourth quarter was $27.6 million, or 32 cents per share, compared with $30.8 million, or 49 cents per share, in the same quarter a year earlier.

Excluding derivative losses and deferred tax liabilities, earnings nearly tripled to $70.2 million, or 81 cents per share, from $25 million, or 40 cents per share.

Revenue rose to $$333.6 million from $183.9 million. (Reporting by Chris Reiter; Editing by Braden Reddall)