Massey sees strong net income in quarter; labor retention improves as well

摘要

Massey Energy will be focusing on increasing productivity this year, starting with results in the first quarter. The company reported net income of 32.6 million dollars for the quarter, up from 5.6 million dollars a year ago. The Q1 2006 earnings were unusually low due to heavy expenses related to the Aracoma Alma No. 1 mine belt fire in January 2006, in which two miners died (CO 5/1/06). During that quarter, Massey produced 10.1 million short tons, compared with 9.9 million st in Q1 2007.