The last 12 months has been busy for Yahoo as it focused on staving off merger talks from Microsoft, saw board shenanigans with Carl Icahn and finally the stepping down of its CEO Jerry Yang.

The company's latest Q4 results however paint a slightly rosier picture and suggest that it is not doing so badly after all.

While the figures are down across the board, the company still managed to pull in revenues of $1,806 million for the fourth quarter of 2008, only a 1 percent decrease compared to $1,832 million for the same period of 2007.

Put that against the rest of the year, and Yahoo was actually up 3% compared to 2007.

According to the new CEO, Carol Bartz, who's been parachuted in to pick up the pieces, Yahoo has “also made important investments while aggressively managing costs, leaving us better positioned to weather the economic downturn and emerge stronger when advertiser spending improves", before admitting that: "We have work to do".