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James River Coal 4Q Profit

James River Coal Co. swung to a fourth-quarter profit as the company benefited from higher sales prices and as a $22.1 million tax benefit boosted its bottom line.

March 07, 2011

James River Coal Co. swung to a fourth-quarter profit as the company benefited from higher sales prices and as a $22.1 million tax benefit boosted its bottom line.

James River, among the beneficiaries of supply disruptions caused by massive flooding in Australia, moved to increase its presence in the increasingly lucrative coal-export market, saying late Sunday it had agreed to acquire privately held producer International Resource Partners LP for $475 million.

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-Wall Street Journal

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