Range Resources posts 4th-quarter profit

NEW YORK, Feb 26 (Reuters) - Range Resources Corp (RRC.N: Quote, Profile, Research, Stock Buzz) , an independent oil and gas company, on Tuesday reported a sharply higher fourth-quarter profit, while production and reserves increased.

The Fort Worth, Texas-based company posted a net profit of $34.3 million, or 22 cents per share, compared with a profit of $427,000, or 0 cents per share, a year ago.

Excluding items, the company earned 40 cents per share. Analysts on average expected 45 cents per share, according to Reuters Estimates.

Revenue for the company that has operations in the U.S. Gulf Coast and Appalachian regions rose 27 percent to $223 million million. (Reporting by Bill Berkrot and Anna Driver; Editing by Ben Tan)