November 3, 2009 / 1:15 PM / 8 years ago

CORRECTED - UPDATE 1-Coal miner Alpha's profit tops Wall St view

(Corrects net result from profit to loss in 2nd paragraph, explains adjusted earnings in third paragraph)

* Q3 EPS 47 cents vs Street view 38 cents

* Revenue falls 41 pct to $729 mln

NEW YORK, Nov 3 (Reuters) - Coal miner Alpha Natural Resources Inc ANR.N posted a better-than-expected third-quarter profit on Tuesday and raised its forecast for metallurgical coal sales next year.

The company reported a net loss of $19.5 million, or 19 cents per share, compared with a profit of $67.4 million, or 93 cents per share, a year earlier.

But, excluding merger-related expenses and other one-time items, adjusted earnings per share from continuing operations were 47 cents, topping analysts’ average forecast of 38 cents, according to Thomson Reuters I/B/E/S.

The company raised its forecast for 2010 metallurgical coal shipments to a range of 10 to 12 million tons, up 1 million tons from its previous forecast.

Revenue slipped 41 percent to $729 million, said Alpha, which produces steam, or thermal coal for power generation, and metallurgical, or coking coal for steelmaking. (Reporting by Matt Daily, editing by Dave Zimmerman)

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