On August 3, Virginia, US-based metallurgical coal producer Alpha Natural Resources issued its financial results for the second quarter of 2010, reporting that its metallurgical coal shipments increased 122 percent year on year in the period in question.
According to the financial results, the net profit of the company was $38.8 million in the second quarter of 2010, compared with a net profit of $15.4 million in the second quarter of 2009, increasing 151.9 percent. Sales revenues in the second quarter of 2010 saw an increase of 165.9 percent, rising from $335 million in the previous year to $894.1 million. The EBITDA of the company was $198.6 million in the second quarter of 2010, compared with an EBITDA of $68.2 million in the second quarter of 2009, increasing by 191.2 percent.
Kevin Crutchfield, Alpha's chief executive officer commented, "Amid a turbulent time in our industry with unprecedented regulatory challenges, a bumpy and gradual economic recovery and near-term weakening of metallurgical coal demand and pricing, Alpha once again delivered consistent results during the second quarter generating EBITDA from Continuing Operations of $199 million."