National Coal 4Q loss widens as demand and prices slip

For the quarter ended Dec. 31, the company posted a loss of $8.6 million, or 34 cents per share, compared with a loss of $7.8 million, or 48 cents per share, in the year-ago quarter.

The lower per-share loss reflects a 53 percent increase in the number of shares outstanding from the prior year.

Revenue surged 58 percent to $34 million, from $21.5 million a year earlier.

President and Chief Executive Daniel A. Roling said 2007 was "a difficult year for the company; demand declined as customers drew down inventories and prices dropped. National Coal produced coal at levels well below its capacity and, as a result, absorbed significant idle facility costs," he said.

For the full year, the company reported a loss of $30.2 million, or $1.46 per share, compared with a loss of $24.4 million, or $1.59 per share, in fiscal 2006.

Sales rose 6 percent to $92.8 million.