Massey Energy Fourth Quarter Shipments Fall Short of Expectations

Massey Energy Company MEE announced today that its produced coal shipments in the fourth quarter of 2010 were lower than projected in earlier guidance. The Company stated that produced tons sold for the quarter totaled 8.9 million tons, bringing the full year 2010 total to 37.1 million tons. The total produced tons sold in the fourth quarter were approximately 1.4 million tons lower than the levels incorporated in Massey's most recent guidance issued in October 2010. The lower produced tons sold in addition to charges related to the former CEO's retirement and impairments related to idled or closed mines will result in an operating loss that is greater than was previously expected.