Kerr McGee Corp. reported income of $14.7...

Kerr McGee Corp. reported income of $14.7 million for the fourth quarter and $81 million for the year. The Oklahoma City energy company earned $8.8 million in the year-ago quarter and had a loss of $291.7 million in 1986. The firm said the improved results were largely due to lower costs for exploration and production operations. Increased crude oil prices and natural gas sales volume also produced an operating profit for the year, although an operating loss in the fourth quarter resulted from depressed profit margins and lower sales of petroleum products.