Westmoreland Coal Company (AMEX:WLB) reports its fourth quarter earnings today.

Westmoreland Coal Company (AMEX:WLB) reported today a net loss applicable to common shareholders of $28.7 million ($2.88 per diluted share) for 2009 compared to a net loss of $49.9 million ($5.25 per diluted share) for 2008. Westmoreland Coal Company trades on the “American Stock Exchange” under the stock symbol WLB”. For the Latest information regarding on “WLB”, make sure to visit the Most Exclusive and In Depth newsletter website at:   http://www.wallstreetgrand.com/.

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Westmoreland Coal Company (AMEX:WLB) reported today a net loss applicable to common shareholders of $28.7 million ($2.88 per diluted share) for 2009 compared to a net loss of $49.9 million ($5.25 per diluted share) for 2008. Westmoreland’s 2009 net loss includes a $17.1 million non-cash income tax benefit resulting from other comprehensive income gains, $5.1 million of income from the favorable valuation of the conversion feature in the Company’s convertible notes, a $0.8 million gain related to the settlement of a heritage benefit claim, and $4.8 million of expense related to the anticipated settlement of a customer dispute.

Excluding the $18.1 million of 2009 income and the $17.1 million of 2008 expense from the items discussed above, the 2009 net loss increased by $13.9 million. This increase in net loss was primarily driven by significant coal customer outages and planned and unplanned ROVA maintenance outages in the fourth quarter of 2009. These decreases were partially offset by income from the Company’s Indian Coal Tax Credit transactions as well as reductions in corporate and heritage costs resulting from cost control efforts. The Company’s revenues in 2009 decreased to $443.4 million compared with $509.7 million in 2008. This decrease was also driven by coal customer outages and a $7.7 million decrease in power revenues due to the unplanned outage.

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