Summary Box: GlaxoSmithKline swings to 4Q profit

THE NEWS: GlaxoSmithKline PLC swung to a profit in the fourth quarter, as the British drugmaker reaped the benefits of lower restructuring costs and reduced overhead.

THE NUMBERS: For the last three months of 2011, Glaxo earned 1.25 billion pounds ($1.98 billion) compared with a loss of 633 million pounds a year earlier. Revenue dipped 3 percent to 6.98 billion pounds.

THE DETAILS: Sales and administration costs were slashed by a third to 8.8 billion pounds, while restructuring costs were roughly half of the prior year, at 150 million pounds.