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Net income rose 13 percent to $41.5 million for the period ending June 30. Improved pricing for Alliance Resource Partner's coal sales contracts offset lower volumes. "We remain on track to post our ninth consecutive year of record results," Alliance CEO Joseph Craft III said in a statement. "We continue to be optimistic about the long-tern fundamentals." The positive earnings report also offset negative news earlier this month for the company. Alliance Resource Partners reduced coal production at Van Lear mine in Kentucky. The shutdown also forced the company to let go of about 72 employees. Coal demand from the Norfolk Southern rail market had dropped for the past year. Alliance Resource Partners, which started in 1971 as Mapco Coal Inc., is one of the country's largest producers of steam coal, with operations in Illinois, Indiana, Kentucky, Maryland and West Virginia. Reports show it employs more than 2,000 people. Register for Latest News Alerts: Every day at 4 p.m, get the day's top headlines sent directly to your inbox. It's free and easy to set up. Already a registered user? Click here to visit your profile to sign up. For new registration, click here. To see more of the Tulsa World, or to subscribe to the newspaper, go to http://www.tulsaworld.com. Copyright (c) 2009, Tulsa World, Okla. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. For full details on Alliance Resource Partners LP (ARLP) click here. Alliance Resource Partners LP (ARLP) has Short Term PowerRatings of 5. Details on Alliance Resource Partners LP (ARLP) Short Term PowerRatings is available at This Link.
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