BEVERLY HILLS, CA— Hilton Hotels Corp. reported fourth-quarter profits of $4 million, which accounted for 1 cent per share. The amount reflects a sharp drop compared with net earnings of $64 million, or 17 cents per share, a year earlier, according to a Reuters report. Revenues totaled $662 million, down 24% from a year earlier. Nevertheless, analysts praised the companys efforts to recoup losses from Sept. 11s aftermath. “These guys are doing a pretty solid job of managing for recovery,” said ABN Amro lodging and gaming analyst Joe Greff. “Whats important is their ability to control costs, which will pass through into 2002.” Hilton said it expects the first-quarter to be challenging, with revenues down 15% to 20%. The company expects earnings of 5 cents per share, including accounting rule changes. It further expects 2002 revenues will be down 1%, with EBITDA up 1% to 2%, and anticipates earnings in the low 60 cents per share range, including goodwill. Hilton said it believes its recent sale of the Red Lion hotel chain and a difficult financing market will impact its new hotel openings this year. But Hilton reaffirmed guidance for total capital expenditures in 2002 at $250 million.