Last10K.com

Foundation Coal Holdings, Inc. (ANRZQ) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2007

Alpha Natural Resources, Inc.

CIK: 1301063 Ticker: ANRZQ

Exhibit 99.1

LOGO

News Release

Contact:

Todd Allen, CFA

Vice President, Investor and Media Relations

410-689-7632

tallen@foundationcoal.com

Foundation Coal Announces Fourth Quarter 2007 Results

LINTHICUM HEIGHTS, Md., February 14, 2008 – Foundation Coal Holdings, Inc. (NYSE:FCL) today reported fourth quarter 2007 net income of $9.9 million or $0.21 per diluted share, compared to a loss of $21.9 million or $0.48 per diluted share in the fourth quarter of 2006. Excluding special items, net income was $10.4 million or $0.22 per diluted share, compared to $2.2 million or $0.05 per diluted share in the fourth quarter last year. The strong quarterly results primarily reflect record fourth quarter shipments from the Powder River Basin and higher average per ton sales realizations in all regions, which more than offset slightly lower shipments from Central Appalachia and higher non-cash operating expenses.

Full year 2007 net income was $32.6 million or $0.70 per diluted share. Excluding special items, net income for 2007 was $41.0 million or $0.88 per diluted share, near the high end of the previous guidance range of $0.75 to $0.90.

Summary Statistics

($ in millions, except per-share and tonnage amounts)

 

     Quarter Ended
December 31,
2007
    Quarter Ended
December 31,
2006
    Year Ended
December 31,
2007
    Year Ended
December 31,
2006
 

Coal Sales Revenues

   $ 355.9     $ 345.9     $ 1,452.7     $ 1,440.2  

Coal Shipments (MM Tons)

     18.1       18.3       73.6       73.9  

Net Income (Loss)

   $ 9.9 1     ($21.9 ) 3   $ 32.6 1, 2   $ 31.4 3, 4

Earnings (Loss) per Diluted Share

   $ 0.21 1     ($0.48 )3   $ 0.70 1, 2   $ 0.67 3, 4

Adjusted EBITDA

   $ 79.3     $ 65.3     $ 307.5     $ 311.7  

 

NOTE:

 

1

Includes charges for employee and coal supply termination expenses at the Wabash mine of $0.3 million for the fourth quarter   2007 and $9.0 million for the full year 2007, and a non-cash charge related to the accelerated amortization of deferred debt   issuance costs of $0.2 million.

 

2

Includes a premium refund settlement from the Combined Benefit Fund of $0.8 million.

 

3

Includes a non-cash charge related to the write-down of assets at Wabash of $24.0 million.

 

4

Includes non-cash accelerated amortization of deferred debt issuance costs of $7.8 million.

Please see EBITDA reconciliation and reconciliation of non-GAAP measures to net income tables

included as exhibits to this release.


The following information was filed by Alpha Natural Resources, Inc. (ANRZQ) on Thursday, February 14, 2008 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Alpha Natural Resources, Inc.'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-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Alpha Natural Resources, Inc..

Continue

Assess how Alpha Natural Resources, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Alpha Natural Resources, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2008 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools
Ticker: ANRZQ
CIK: 1301063
Form Type: 10-K Annual Report
Accession Number: 0001193125-08-043632
Submitted to the SEC: Fri Feb 29 2008 4:01:40 PM EST
Accepted by the SEC: Fri Feb 29 2008
Period: Monday, December 31, 2007
Industry: Bituminous Coal And Lignite Surface Mining

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/anrzq/0001193125-08-043632.htm