DALLAS, Sept. 10, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring International Coal Group Inc. (NYSE:ICO). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/lp/ICO
International Coal Group Inc. (ICO) is a producer of coal in Northern and Central Appalachia with a range of mid to high British thermal unit (Btu), low to medium sulfur steam and metallurgical coal. The Company's Appalachian mining complexes are located in West Virginia, Kentucky, Virginia and Maryland. It also has a complementary mining complex of mid to high sulfur steam coal located in the Illinois Basin. ICO markets its coal to a customer base of largely investment grade electric utilities, as well as domestic and international industrial customers. The Company has three business segments that are based on the coal regions in which it operates: Central Appalachian, comprised of both surface and underground mines; Northern Appalachian, comprised of both surface and underground mines, and Illinois Basin, representing one underground mine.
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In the report, the analyst notes:
"Net income was $4.5 million, or $0.02 per share on a diluted basis, for the second quarter of 2010 compared to net income of $10.4 million, or $0.07 per share on a diluted basis, for the second quarter of 2009. Net income for the second quarter of 2010 also included a $6.1 million pre-tax loss on extinguishment of debt related to the Company's capital restructuring.
"Despite the uncertain near-term global economic outlook, thermal coal fundamentals appear to be improving due to declining utility inventories and increasing electricity consumption. The Company expects metallurgical coal pricing to strengthen going forward as the outlook for world steel demand continues to improve."
To read the entire report visit: www.microstockprofit.com/lp/ICO
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