(AMM) Walter Energy net income surges in second quarter

PITTSBURGH 29 July 2010 21:23

Benefiting from an upturn in steel demand, Walter Energy Inc. posted a tenfold increase in second-quarter net income to $116.1 million from $11.3 million a year earlier on sales that more than doubled to $410.6 million.

"Our coking coal operation posted record operating income in the second quarter," Joe Leonard, interim chief executive officer, said. "Robust demand, improved pricing and additional coking coal production from our Mine No. 7 expansion drove our results for the quarter."

The Tampa, Fla.-based company...

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(AMM) Walter Energy net income surges in second quarter

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