Alpha Natural Resources Reports First Quarter Loss - Beckley, Bluefield & Lewisburg News, Weather, Sports

Alpha Natural Resources Reports First Quarter Loss

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BRISTOL, Va. -

Alpha Natural Resources released the financial results for the first quarter of 2012 on Thursday, May 3.

The company that bought Massey Energy announced that the integration process has continued with increased safety and low employee turnover, despite a net loss from January to March.  The release comes as the company approaches the one year anniversary of the merger.

Chief Executive Officer, Kevin Crutchfield made the following points as the anniversary of the Massey merger approaches.  The workforce is fully integrated, the last legacy Massey mine was removed from MSHA's Potential Pattern of Violation list; employee turnover is now in single digits and the company ended the first quarter with an annual synergy run-rate of greater than $150 million.

"During the first quarter, Alpha's workforce continued to deliver on our shared commitment to Running Right," said Crutchfield.  "We salute the successful effort of our workforce, but the loss of a member of the Alpha family at the Kingston No. 2 Mine reminds us that Alpha's goal is zero incidents."

The report shows that first quarter revenues were $1.94 billion compared to $1.13 billion for the same period in 2011.

The complete release is attached below.