Corsa Coal Corp. on March 13 reported net and comprehensive income of $62.2 million in the fourth quarter, or 56 cents per share, compared with a loss of $10.7 million, or 13 cents per share, in the fourth quarter of 2016.
Revenue was $58.3 million, compared with $37.7 million in the same quarter a year earlier.
The company shipped 537,000 tons of metallurgical and thermal coal in the most recent quarter, up from the 459,000 tons of coal sold in the year-ago quarter.
The average sales price for its metallurgical coal in the Northern Appalachian region was $122.25 per ton during the quarter, up from $101.99/ton a year ago. For thermal coal, the average sales price was $46.31/ton, compared with $45.20/ton a year earlier.
Both its thermal and metallurgical coal in Central Appalachia obtained an average sales price of $59.54/ton, compared with $58.83/ton in the year-ago quarter.
For the full year, GAAP net and comprehensive income was $83.7 million, or 72 cents per share, compared with a net and comprehensive loss of $34.1 million, or 44 cents per share, the previous year.
Revenue for the full year totaled $263.9 million, compared with $97.0 million a year earlier.
The company reported sales of 2.4 million tons of coal during the year, compared with 1.4 million tons a year earlier, and attained an average sales price of $125.56/ton for its metallurgical coal in the Northern Appalachian region and $45.01/ton for its thermal coal.
In Central Appalachia, both its thermal and metallurgical coal attained an average sales price of $62.37/ton.
