James River Coal Company Reports Fourth Quarter and Full Year 2009 Operating Results
Monday, March 1st, 2010
James River Coal Company (Nasdaq: JRCC), a producer of steam and industrial-grade coal, announce that it had net income of $51.0 million or $1.85 per fully diluted share for the year ended December 31, 2009 and a net loss of $3.2 million or $0.12 per fully diluted share for the fourth quarter of 2009. This is compared to a net loss of $96.0 million or $3.91 per fully diluted share for the year ended December 31, 2008 and a net loss of $33.6 million or $1.26 per fully diluted share for the fourth quarter of 2008.
Peter T. Socha, Chairman and Chief Executive Officer, commented: “This was the most profitable year in the history of James River Coal Company. We strengthened every aspect of our company during a severe recession and a very weak coal market. While still early, we are beginning to see signs of strength in both the economy and the coal markets. We will enter this new period with improved operations assets, continued close customer relationships, and a much stronger financial profile. We are very optimistic about our future prospects.”