Investor Contact: Mark H. Tubb
Vice President - Investor Relations
Media Contact: Michael A. Monahan
Director - Corporate Communications


- Company Reports Fourth Quarter Earnings of $0.76 per Diluted Share -
- Mine Nos. 4 and 7 Produced Record Metallurgical Coal Tonnage in 2007 -
- Company Retains 1.6 Million Unpriced Tons for 2008; Pricing Continues to Strengthen -
- Met Coal Production to Increase 20 Percent in 2008, 50 Percent by 2010 -
- Victor P. Patrick Named Chief Financial Officer; Joseph J. Troy to Focus on Separation Strategy for Financing and Homebuilding -

TAMPA, Fla., Feb. 19 /PRNewswire-FirstCall/ - Walter Industries, Inc. (NYSE: WLT) today reported net income from continuing operations of $40.0 million, or $0.76 per diluted share for the fourth quarter ended Dec. 31. 2007 compared to $28.5 million, or $0.55 per diluted share, in the fourth quarter 2006. Fourth quarter 2007 results include favorable pre-tax adjustments of $12.7 million comprised of $8.9 million of interest capitalization and $3.8 million to increase deferred loan origination costs, plus a $3.2 million favorable tax adjustment. Excluding these adjustments, fourth quarter 2007 results would have been approximately $0.54 per diluted share. Income from continuing operations for the full-year 2007 totaled $114.2 million, or $2.18 per diluted share, while full-year 2006 income from continuing operations totaled $152.9 million, or $3.00 per diluted share.

“Our 2007 operating and financial results were very positive. But more importantly, we made great progress toward opening the reserves in Mine No. 7 East for near-term production,” said Walter Industries Chairman Michael T. Tokarz. “The global metallurgical coal market continues to strengthen at a time when our Mine No. 7 expansion activities are nearing completion. We expect significant increases in production volumes in each of the next three years, with current initiatives generating an annual tonnage increase of more than 50 percent by 2010. Our expanding production volumes and ability to capitalize on extremely favorable market conditions make us confident we can continue to deliver significant value to our shareholders in 2008 and beyond.”

Fourth Quarter 2007 Financial Results

Net sales and revenues for the fourth quarter 2007 totaled $312.3 million, up $4.1 million from the prior-year period. Prior year revenues included $23.4 million from an insurance claim. Excluding this claim, fourth quarter 2007 revenues improved 5.1 percent organically, and 9.7 percent in total, primarily due to higher metallurgical coal sales volumes and the acquisition of Tuscaloosa Resources, Inc. (“TRI”) in 2007, partially offset by lower metallurgical coal contract pricing and fewer unit deliveries at Homebuilding.

The following information was filed by Walter Energy, Inc. (WLTGQ) on Wednesday, February 20, 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 Walter Energy, 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 Walter Energy, Inc..


Never Miss A New SEC Filing Again

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

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


We Highlighted This SEC Filing For You

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

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


Widen Your SEC Filing Reading Experience

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

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


Uncover Actionable Information Inside SEC Filings

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

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


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 Member Feature

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


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 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) 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


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019) 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


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios Member Feature

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


Log in with your credentials


Forgot your details?

Create Account