Exhibit 99.1
 
Alpha Natural Resources, Inc.
FOR IMMEDIATE RELEASE

Alpha Natural Resources Reports 60 Percent
Improvement in Net Income for First Quarter

 
·
Quarterly coal revenues of $424.4 million top last year despite 20% decline in shipments
 
·
Net income in first quarter increases to $41.0 million, or $0.58 per diluted share, from $25.5 million, or $0.39 per diluted share,  for comparable period in 2008
 
·
EBITDA from continuing operations of $109.7 million represents $21.1 million improvement from last year’s first quarter
 
·
Per-ton margin reaches record $23.48, up 66% from the last three months of 2008
 
·
Per-ton costs decline by 13% sequentially from final quarter of 2008

ABINGDON, Va., May 6, 2009—Alpha Natural Resources, Inc. (NYSE: ANR), a leading supplier of high-quality Appalachian coal, reported higher coal revenues and net income in the first quarter of 2009 compared with last year, as a 25 percent improvement in the company’s average coal sales price overcame continued contraction in demand.   

For the three months ended March 31, 2009, Alpha reported revenues from coal sales of $424.4 million compared with $422.4 million in the first quarter of 2008, despite a 1.3 million ton drop in sales volumes period over period. Net income for the first three months of 2009 was $41.0 million ($0.58 per diluted share), compared with net income of $25.5 million ($0.39 per diluted share) in the first quarter of 2008. Amounts for all periods have been adjusted for discontinued operations.

Alpha reported earnings before interest, taxes, depreciation, depletion and amortization (EBITDA) from continuing operations of $109.7 million in the most recent quarter, a 24 percent increase from the prior year. The definition of EBITDA from continuing operations and a reconciliation to income from continuing operations, the most closely related GAAP measure, is provided in a table included with the accompanying financial schedules.

For the quarter just ended, Alpha achieved a record coal margin per ton of $23.48, 81 percent higher than the comparable period in 2008 and a 66 percent improvement, sequentially, from the fourth quarter of 2008. Improved pricing of this year’s thermal coal contracts was the main reason behind the record unit margin, while per-ton cash costs in the first quarter also showed a distinct downward trend from the end of 2008.

“In dealing with a sluggish demand environment, our primary focus has been on managing margins,” said Michael Quillen, chairman and CEO.  “We’ve demonstrated an ability to react nimbly and adjust asset utilization to lower demand levels. Since the end of 2008 we’ve made a series of calculated production adjustments to bring raw coal output and inventories in line with our sales commitments. In doing so we’ve gravitated towards our most efficient mines, which has yielded better productivity and lower unit production costs.
 
MORE
 
One Alpha Place P.O. Box 2345 Abingdon, Virginia 24212 866-322-5742 www.alphanr.com

The following information was filed by Alpha Natural Resources, Inc.Old (ANR) on Wednesday, May 6, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Alpha Natural Resources, Inc.Old's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Alpha Natural Resources, Inc.Old.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account