James River Coal reports loss for the third quarter
- November 8, 2011
Richmond-based James River Coal Co. reported a net loss of $3.7 million, or 11 cents per diluted share, for the third quarter.
The coal company also had a net loss of $10.5 million, 33 cents per diluted share, for the nine months ended Sept. 30.
The nine-months results include $9.8 million, or 30 cents per share, of after-tax charges related to the International Resource Partners LP (IRP) acquisition and refinancing of company debt.
The company had net income of $9.2 million, or 33 cents per diluted share, for the third quarter of 2010 and a profit of $52.3 million, or $1.89 per diluted share, for first nine months of that year.
Coal sales revenue reached $291.6 million in the most recent third quarter, up from $170.9 million in the same period last year. Nine-month coal sales revenue totaled $783.6 million, up from $537.5 million in 2010.