Arch Coal, Inc. ACI today reported fourth quarter 2010 net income of $47.8 million, or $0.29 per diluted share, compared with net income of $1.5 million, or $0.01 per diluted share, in the prior-year period. Excluding certain charges, fourth quarter 2010 adjusted net income was $53.9 million, or $0.33 per diluted share. These charges represent non-cash amortization of coal supply agreements acquired in the Jacobs Ranch transaction.
Fourth quarter 2010 revenues grew 15 percent versus the prior-year quarter on higher sales volume. Adjusted earnings before interest, taxes, depreciation, depletion and amortization increased 33 percent versus a year ago to reach $192 million in the fourth quarter of 2010. Additionally, the company generated free cash flow of $147 million in the quarter just ended, matching the previous record set in the third quarter of 2010.
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