Westmoreland Coal (WLB) Reports a Q3 Loss

November 14, 2008 5:17 PM EST

Westmoreland Coal Company (AMEX: WLB) reports a Q3 loss of $0.37 compared to a loss of $0.81 for the same period last year. Revenues were $141.3 million compared to $130.23 million for the same period last year.

(Results were negatively impacted during third quarter 2008 by a $2.6 million charge taken for the anticipated settlement of two coal royalty claims and $0.8 million charge for an other-than-temporary impairment of marketable securities. Third quarter 2008 also benefited from a $0.9 million gain on the sale of our interest in the Ft. Lupton power project. The third quarter of 2007 was negatively impacted by a $1.7 million restructuring charge and a $1.1 million write-off of inventory associated with the new contract at our Jewett Mine)

Westmoreland Coal Company (WCC) is an energy company that mines coal used in producing electric power and owns interests in power-generating plants. The Company owns five mines, which supply power plants.[SM]

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