
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, April 22, 1990                   TAG: 9004200021
SECTION: BUSINESS                    PAGE: BUS4   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

WESTMORELAND COAL REPORTS LOWER INCOME

Westmoreland Coal Co. of Philadelphia, Pa., has announced first quarter net income of $2.7 million or $.33 per share compared with earnings of $3.4 million or $.42 per share during the same quarter last year.

First quarter results last year, however, included a $2.7 million income tax refund and interest from the refund. Not counting the refund, the 1990 results represent a $2 million improvement over 1989.

The improved results show that Westmoreland's restructuring and cost-reduction efforts are having a positive impact, the company said.

Most of Westmoreland's eastern mines are located in Southwest Virginia's Wise County.

Westmoreland's income from coal operations during the first quarter was $4 million compared with $3.1 million for the same period last year, but other non-coal subsidiaries lost $207,000 during the quarter compared with a profit of $299,000 in 1989.

The company's coal revenue for the quarter was $127.2 million on 4.6 million tons sold, compared with $135.4 million on 4.4 million tons sold in 1989. Roughly 43 percent of the company's first quarter sales were brokered for other coal producers.

by CNB