NEW YORK (AP) ? Coal producer Alpha Natural Resources says it lost $2.2 billion in the second quarter on charges for restructuring and the declining value of some assets. But even without those charges, its loss was larger than Wall Street expected.
Revenue rose 15 percent to $1.85 billion but that also came in below expectations.
The Bristol, Va., company's loss worked out to $10.14 per share. A year ago, it lost $50 million, or 32 cents per share.
Excluding expenses related to the 2010 Upper Big Branch mine disaster and other costs, Alpha Natural Resources Inc. said Wednesday it lost $72 million, or 33 cents per share in the April-June quarter.
FactSet says analysts expected a smaller loss of 27 cents per share on higher revenue of $1.93 billion.
Source: http://news.yahoo.com/alpha-natural-resources-loses-2-2b-2nd-qtr-113609504--finance.html
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