Alpha Natural Resources first quarter "better than expected"
Updated On: May 02 2013 04:31:58 PM CDT
Alpha Natural Resources leaders say despite a widening loss in the first quarter, they did better than expected.
The Bristol, Virginia based coal company posted a loss of more than $110 million for the period. Last year, it was $28.7 million. Revenue fell 31 percent.
Analysts attribute the loss to a lack in demand for coal as utilities turn to natural gas. Also, foreign steel production is down.
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