Alpha Natural Resources, Inc. (ANR) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2009

Alpha Natural Resources, Inc.Old

CIK: 1310243 Ticker: ANR
Exhibit 99.1
Alpha Natural Resources, Inc.

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.
One Alpha Place P.O. Box 2345 Abingdon, Virginia 24212 866-322-5742

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.

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Definitive Proxy Statement (Form DEF 14A)
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Alpha Natural Resources, Inc.Old's Definitive Proxy Statement (Form DEF 14A) filed after their 2009 10-K Annual Report includes:

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SEC Filing Tools
Ticker: ANR
CIK: 1310243
Form Type: 10-Q Quarterly Report
Accession Number: 0001310243-09-000012
Submitted to the SEC: Thu May 07 2009 5:23:53 PM EST
Accepted by the SEC: Thu May 07 2009
Period: Tuesday, March 31, 2009
Industry: Bituminous Coal And Lignite Surface Mining

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