Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, January 31, 1995 TAG: 9501310152
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
The Coastal Corp. of Houston reported net earnings for 1994 of $232.6 million, or $2.05 a share, double the $115.8 million, or $1 a share, earned in 1993.
Coastal's coal subsidiaries, ANR Coal Co. and Coastal Coal Sales, are based in Roanoke.
Coastal reported fourth-quarter earnings of $81.8 million, or 74 cents a share, compared with $75.9 million, or 68 cents a share, a year earlier.
Chairman Oscar Wyatt Jr. said a company restructuring begun 18 months ago is working. The company plans to grow 15 percent this year.
- Staff report
Coal companies, UMW reach pact
The United Mine Workers of America and the Bituminous Coal Operators Association have reached agreement on a tentative contract covering some 1,800 mine construction workers, UMW President Richard Trumka said Monday.
Local UMW leaders will review the contract at a meeting Feb. 6 in Nashville, Tenn. Ratification voting will be Feb. 10.
Terms will not be revealed until the contract has been explained to union members.
- Staff report
Pittston Minerals reports profit
The Pittston Minerals Group reported net income of $8.2 million in the fourth quarter of 1994 based on the strength of its coal and gold business, compared with a loss of $44.8 million a year earlier.
Earnings per share of common stock were 91 cents in the fourth quarter, compared with a $5.98 loss a year earlier.
Pittston Minerals recorded a net loss of $52.9 million, or $7.50 per common share, in all of 1994, as a result of first-quarter asset writedowns and facility shutdowns, the company said. It marked the second year the company reported a net loss as the result of restructuring.
- Staff report
by CNB