ICO Sustains Sales, Controls Costs, Maintains Positive Outlook

International Coal Group, Inc. ICO reported a $10M charge to buyout a 400k ton thermal sales agreement, for which it expects a margin of $75/ton on a buyout of $25/ton, according to Dahlman. Dahlman reports that ICO adjusted its EBITDA of $55M vs. the $57M expected by Dahlman, due to lower tons sold and lower realized pricing than was anticipated, yielding higher metallurgical sales volume. Dahlman reiterates its "buy" rating with a price target at $9 on ICO shares. International Coal Group, Inc. closed yesterday at $4.47.