Teekay Corporation swung to fourth-quarter net income of $38.2 million from the loss it reported in the same period a year earlier.

The Bermudian-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 shipper 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 surged in response to the results, and closed the week at $7.58, up from $5.87 at the start of the trading week.