California Resources Corporatio (NYSE:CRC)

Commenting on these results, Ronald H. Butler, Chairman and Chief Executive Officer, said that the restructuring and cost containment actions implemented starting in 2008 have made a significant positive impact on fourth quarter results and have helped reduce the effects of the economic downturn. He added, “2010 appears to be a continuation of the challenging economic environment for consumers. Dealers are interested in showing new products like our Southern Living™ line of furniture, and we introduced a new youth line of furniture, CR Kids & Beyond™, from our CR International subsidiary at the Las Vegas Furniture Market last month. The reactions were positive from our customers and we hope to see a similar reaction at the upcoming High Point Furniture Market in April. We continue to believe that when the furniture market improves, the Company is well positioned to return to profitability.”