Western Coal announces fiscal third quarter 2010 results
Western Coal Corp. (TSX: WTN, WTN.DB & WTN.WT and AIM: WTN) ("Western" or the "Company") announces its operating results for the three and nine month period ended December 31, 2009. On sales of $118.7 million, the Company earned $24.0 million or earnings per share of $0.10 on a basic basis for the third quarter 2010. For the nine month period ending December 31, 2009, the Company earned on sales of $302.0 million, net income of $29.6 million or earnings per share of $0.13 on a basic and diluted basis.
Despite the lower price environment for coal and lower sales volumes both of which are a result of the economic downturn in fiscal 2010 when compared to fiscal 2009, the Company has been successful in reducing its per unit cash costs. Western has also been able to maintain a strong financial position through the global economic recession while continuing to invest in the business.
- Published: 09 February 2010
- Written by Editor