Year-End and Fourth Quarter 2009 Results

National Coal Corp. Released its Year-End and Fourth Quarter Results on March 31, 2010. Highlights include:

• 2009 revenues from continuing operations totaled approximately $88.0 million, up 35.2% from $65.1  million in 2008
• Tons of coal sold during 2009 increased approximately 20% to 1.2 million tons, up from 1.0 million tons sold during the year-ago period
• 2009 net loss from continuing operations decreased 30.5% from $25.5 million in 2008 to $17.7 million in 2009, and adjusted EBITDA for the year increased to $0.1 million, from ($6.9) million in 2008
• Revenues for fourth quarter 2009 totaled approximately $23.3 million, up 71.1% from $13.6 million in the fourth quarter 2008
• Production from continuing operations decreased 17.7% from 1.0  million tons in 2008 to 0.8 million tons in 2009

            Download the Release (PDF 84KB)

            Read the 10QK (PDF  319KB) 

            The Company did not host a conference call.

Third Quarter 2009 Results

Second Quarter 2009

National Coal Corp. Released its Second Quarter 2009 Financial Results on August 10, 2009. Highlights include:

• Second quarter revenues increased 11.7% to $35.3 million from $31.6 million during the year-ago quarter.

• Tons of coal sold decreased 3.2% to 457,082 tons, from 472,216 tons during the year-ago quarter, with a significant drop of 24.1% in Alabama tonnage.

• Average price per ton increased 16.8% to $75.15 from $64.32 in the same year-ago quarter.

• For the six months ended June 30, 2009, net cash flow provided by operating activities was a positive $2.5 million versus a negative $5.8 million during the year-ago period.

• On July 21, 2009, National Coal of Alabama (NCA) defaulted on its $60 million credit facility, and as of August 3, 2009, the lender foreclosed on NCA. As of June 30, 2009, National Coal of Alabama accounted for approximately 56% of National Coal Corp.’s debt and liabilities, approximately 39% of its consolidated revenues for the six months then ended, and about 17% of its December 2008 total reserves.

• Pro Forma Balance Sheet and Statement of Operations for National Coal Corp. are attached.
  

           Read the Release (PDF 84KB)

           Download the 10Q (PDF 376KB)

            Read the Transcript (PDF 179KB) 

                 Listen to the conference call (MP3 4MB)

First Quarter 2009

National Coal Corp. Released its First Quarter 2009 Financial Results on May 11, 2009. Highlights include:

• Average realized sales price increased 25% to $72.68 per ton versus $57.96 per ton during the year ago quarter.
• Tons of coal sold decreased 23.4% to 469,012 tons, from 612,159 tons during the year-ago quarter.
• First quarter revenues decreased to $35.1 million from $35.7 million during the year-ago quarter.
• At March 31, 2009, the Company had cash and cash equivalents of approximately $2.9 million and negative working capital of approximately $11.9 million. Cash flows provided by operations were $4.5 million and $3.0 million for the three months ended March 31, 2009, and 2008, respectively.
• On April 9, 2009, the Company executed an agreement with a lender to provide a First Lien Credit Facility for $10.0 million which matures on December 15, 2009.

            Read the Release (PDF 84KB)

                 Download the 10Q (link to a separate site)

             Read the Transcript (PDF 179KB) 

                  Listen to the conference call (MP3 3.55MB)

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