UPDATE 1-Coal miner Alpha's profit tops Wall St view - News

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UPDATE 1-Coal miner Alpha's profit tops Wall St view

By: AFX | 03 Nov 2009 | 08:27 AM ET

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NEW YORK, Nov 3 (Reuters) - Coal miner Alpha Natural Resources Inc posted a better-than-expected third-quarter profit on Tuesday and raised its forecast for metallurgical coal sales next year. Net income was $19.5 million, or 19 cents per share, compared with $67.4 million, or 93 cents per share, a year earlier, the Abingdon, Virginia-based company said. Excluding merger-related expenses and other one-time items, earnings per share were 47 cents, topping analysts' average forecast of 38 cents, according to Thomson Reuters I/B/E/S. The company raised its forecast for 2010 metallurgical coal shipments to a range of 10 to 12 million tons, up 1 million tons from its previous forecast. Revenue slipped 41 percent to $729 million, said Alpha, which produces steam, or thermal coal for power generation, and metallurgical, or coking coal for steelmaking. (Reporting by Matt Daily and Steve James, editing by Dave Zimmerman) Keywords: ALPHANATURAL/ (steve.james@thomsonreuters.com; +1 646-223-6013; Reuters Messaging: steve.james.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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