November 11, 2010 / 12:41 PM / 7 years ago

RPT-Canada's Western Coal Q2 lags Street

(Repeats for wider distribution with no changes to text)

* Q2 adj EPS C$0.13 vs est C$0.23

* Q2 rev C$220.4 mln vs est C$264.4 mln

Nov 11 (Reuters) - Canada’s Western Coal Corp’s WTN.TO quarterly profit lagged analysts’ estimates on higher expenses and a weaker U.S. dollar.

In early October the company, which has mines in British Columbia and West Virginia, said it will start using its own equipment and phase out contractor fleets to cut costs.

Second-quarter earnings were C$40.8 million, or 15 Canadian cents a basic share, compared with C$2.2 million or 1 Canadian cent a basic share, a year ago.

Excluding items, it earned 13 Canadian cents a share.

Revenue more than doubled to C$220.4 million.

Analysts on average expected the company to earn 23 Canadian cents a share on revenue of C$264.4 million.

Other expenses rose about 61 percent to C$12.6 million.

On Nov. 9, its peer Grande Cache Coal Corp GCE.TO posted a more than 50 percent rise in quarterly profit, helped by higher selling prices. [ID:nSGE6A80MW]

Shares of the Vancouver-based company closed at C$7.70 on Wednesday on the Toronto Stock Exchange. They have gained about 27 percent since the company raised its 2011 production view in early October. (Reporting by Vaishnavi Bala in Bangalore; Editing by Don Sebastian)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below