September 7, 2008
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Foundation Coal loses $4.4 million
Foundation Coal Holdings Inc. reported a second-quarter loss yesterday that was related to roof control issues in Northern Appalachia that hampered production and lower than expected shipments from the Powder River Basin because of heavy rainfall in Wyoming and flooding in the Midwest that interrupted transportation. The Linthicum Heights coal producer had a net loss of $4.4 million, or 10 cents per share, for the three months that ended June 30. In comparison, the company also reported a net loss of $3,8 million, or 8 cent per share, for the corresponding quarter of 2007.
Dan Thanh Dang
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