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Corsa Coal reports net, comprehensive income of $2M in Q1

Corsa Coal Corp. on May 9 reported net and comprehensive income from continuing operations of $2.0 million, or 1 cent per share, in the first quarter, compared with $11.9 million, or 8 cents per share, in the first quarter the previous year.

Revenue was $80.4 million, compared with $52.4 million in the first quarter a year earlier.

The company sold 562,000 tons of coal in the first quarter, compared with 372,000 tons in the first quarter a year earlier.

The average sales price for its metallurgical coal in the Northern Appalachian region was $118.46 per ton during the quarter, down from $156.12 per ton a year ago. For thermal coal, the average sales price was $63.75 per ton, up from $43.23 per ton a year earlier.