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Alpha Natural Resources 1Q Net Soars Absent Prior-Year Charges

DOW JONES NEWSWIRES Alpha Natural Resources Inc.'s (ANR) first-quarter profit more than tripled over a prior-year quarter skewed by acquisition charges, though adjusted earnings fell below expectations amid higher costs. Alpha is poised to become the world's third-biggest producer of steelmaking coal once it closes a planned merger with Massey Energy Co. (MEE), right as demand for the material picks up and supplies stretch thin. Massey shareholders are due to vote June 1 on the $7.1 billion takeover. In the latest quarter, Alpha's steelmaking coal shipments jumped 37% to 3.6 million tons. Alpha posted a first-quarter profit of $49.8 million, or 41 cents a share, up from $14 million, or 12 cents a share, a year earlier. Excluding merger-related costs, health-care charges and other items, earnings from continuing operations were 65 cents, down from 69 cents. Revenue rose 23% to $1.13 billion. Analysts polled by Thomson Reuters most recently forecast earnings of 92 cents on $1.06 billion in revenue. Shares closed Monday at $57.57 and were mostly inactive premarket. The stock is down 4.5% over the past month. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Massey (MEE)
DateTimeHeadline
05/24/201118:33:06Judge Tells Massey, Peabody To Turn Over Accident Data To US...
05/24/201118:08:49Alpha Natural To Replace Massey In S&P 500 Next Month On Takeover
05/20/201115:53:19Miners Union Blasts Alpha Resources' Decision To Retain Massey...
05/18/201116:12:16Federal Regulators Withdrew Miners From James River Mine
05/17/201117:53:27Massey Official Faces Third Charge Related To Mine Explosion
05/06/201110:23:37Massey To Halt Production At Randolph Mine For 3 Days Training
05/03/201118:47:49US Official: Safety Violations At Massey Mine 'Outrageous'
05/03/201111:40:30Massey Energy Likely Will Continue Facing Higher Costs-Executives
05/03/201107:55:40Alpha Natural Resources 1Q Net Soars Absent Prior-Year Charges
05/02/201117:57:32Massey Energy Swings To 1Q Loss On Higher Expenses; Revenue Up
04/13/201117:05:09Upper Big Branch Employee Pleads Guilty To Making False Statements
04/11/201111:56:03EARNINGS PREVIEW: US Coal Firms Seek Access Abroad
04/04/201119:24:37WSJ: Massey Mine Probe To Detail Failures One Year After Blast
03/28/201115:29:35Massey Cited By US Mine Regulator In Feb For 81 Safety Breaches
03/23/201119:44:17MBIA, Alcatel-Lucent Among Credits Added To CDX High-Yield Index
03/18/201118:31:08US Coal Miners Set To Profit As Fears Rise Over Nuclear Power
03/15/201113:48:36Massey Mine Security Chief Pleads Not Guilty In Blast Probe -AP
03/08/201112:05:183 More Miners' Families Sue Massey Over 2010 Disaster -Report
03/08/201111:19:03Massey Energy Unit Gets Permit To Open New W.Va. Coal Mine
03/06/201121:25:07James River To Pay $475 Million For International Resource Partners

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