The Daily Record News Briefs: October 23, 2008
The Daily Record (Baltimore) › October 23, 2008
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Summary
Foundation Coal's black hole
Foundation Coal Holdings Inc., of Linthicum Heights, a coal mining company, said it swung to a third-quarter loss as coal production dropped off sharply and costs surged. The company reported a net loss of $32.2 million, or 71 cents per share, compared with net income of $1.9 million, or 4 cents per share, in the year-ago period. Excluding certain items, including mark-to- market losses, the company lost 46 cents per share. Revenue rose 14 percent to $409.4 million from $359.1 million. Analysts polled by Thomson Reuters expected, on average, a loss of 3 cents per share on revenue of $405.2 million. Analysts typically exclude one-time items.See the full content of this document
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The Daily Record News Briefs: October 23, 2008
Coventry profit down 49%
Coventry Health Care Inc., of Bethesda, a provider of health benefits for 4.6 million customers, said third-quarter profit fell 49 percent as medical costs grew faster than premiums and the company took a $36.2 million charge for bad investments. Net income decreased to $85.5 million, or 58 cents a share, from $168.7 million, or $1.08, a year earlier, the company said Tuesday. Profit missed analysts' average estima...See the full content of this document
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