Arch Coal Posts a 4th-Quarter Profit on Cost Cuts and Expanded Operating Marginsadmin
Arch Coal Inc., the nation’s second largest coal producer, on Friday said it swung to a profit in the fourth quarter on cost cutting and expanded operating margins.
The company posted a profit of $79.5 million, or 55 cents per share, compared with a loss of $1 million, or a penny per share during the same period in 2005. Analysts polled by Thomson Financial forecast a profit of 39 cents per share.
Revenue edged down to $618.4 million from $619.8 million during the same period a year earlier. Analysts expected revenue of $648.8 million.
Arch Coal said it reduced costs per ton of coal to $11.62 from $15.99, which led to a margin improvement per ton of $2.46 compared with 13 cents during the same period in 2005.
Source: AP via biz.yahoo.com