88娱乐城
The record earnings and distributable cash flow was due principally to improved coal prices and increased production in Appalachia.
Average coal royalty revenues per ton increased 36% to $2.32 from $1.71. Production also increased 7% to 13.1 million tons compared to 12.2 million tons for the same period last year.
"The continuation of a very robust coal market helped spur NRP's earnings to a record $0.74 per unit this quarter," NRP chief Corbin Robertson Jr. said. "Our lessees continue to benefit from these higher prices allowing NRP to once again raise guidance for the remainder of the year."
For the second time this year NRP raised its guidance for 2004 with coal royalty revenues expected to hit $107 million to $110 million for 2004. Net income per unit is forecast to increase to between $2.35 and $2.45 per unit, up from our previous guidance of $2.10 to $2.25 per unit.
