Puda Coal Inc. said Wednesday that its fourth-quarter earnings fell 32 percent on weaker sales and a noncash charge. Puda Coal Inc. trades on the “American Stock Exchange” under the stock symbol “PUDA”. For More information regarding the "PUDA", make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Puda Coal Inc. (AMEX:PUDA) said Wednesday that its fourth-quarter earnings fell 32 percent on weaker sales and a noncash charge.
Coal sales fell 6 percent during the three-month period. The company also recorded a $1.5 million charge related to a loss in the value of warrants issued in November 2005.
The company, which supplies metallurgical coal used to make steel, reported a profit of $2.3 million, or 14 cents per share, for the quarter ended Dec. 31 compared with $3.4 million, or 22 cents per share, in the year-ago period.
About Puda Coal Inc:
Puda Coal, Inc., together with its subsidiaries, supplies metallurgical coking coal to the industrial sector in the Peoples Republic of China. Its processed coking coal is used by coke and steel producers for the purpose of making the coke required for the steel manufacturing process. The company was founded in 2004 and is based in Taiyuan, the Peoples Republic of China.
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