National Coal 1Q loss widens on operating costs

The company posted a loss of $10.8 million, or 38 cents per share, compared with $6.2 million, or 35 cents per share, in the year-ago quarter.

The company had about 28.4 million shares outstanding in the 2008 period, compared with 17.5 million a year earlier.

Revenue jumped to $35.7 million from $19 million.

Operating expenses jumped to $41.4 million from $23.3 million a year earlier. The company said results were hurt by heavy rains in Tennessee and Alabama, the ending of some operations as an agreement ended with a contract miner and the idling of a mine in Alabama.

The stock soared $1.25, or 21.4 percent, to close at $7.10, after earlier hitting a 52-week high of $7.55. The stock lost 45 cents, or 6.3 percent, to $6.65 in aftermarket activity.