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Cloud Peak Energy announces Q4 result
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Sunday, 19 Feb 2012
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Cloud Peak Energy Inc one of the largest US coal producers and the only pure play Powder River Basin coal company announced results for the fourth quarter and full year 2011.

2011 Fourth Quarter and Full Year Highlights

1. Record Adjusted EBITDA of USD 351.7 million for the full year 2011 compared with USD 322.7 million for 2010; Adjusted EBITDA of USD 92.9 million in the fourth quarter 2011 compared with USD 69.6 million in the fourth quarter 2010.

2. Record annual shipments of 95.6 million tonnes from our three operated mines.

3. Unrestricted cash and investments increased to USD 479.5 million as we generated USD 296.8 million in cash from operations for the full year 2011 and released USD 111.0 million from previously restricted cash. During the fourth quarter, we generated cash from operations of USD 84.3 million.

4. 2011 net income of USD 189.8 million resulting in Adjusted EPS of USD 2.47. Fourth quarter 2011 net income of USD 43.8 million and Adjusted EPS of USD 0.70. Diluted fourth quarter 2011 EPS of USD 0.72 compared to USD 0.36 in the fourth quarter 2010; diluted full year 2011 EPS of USD 3.13 compared to USD 1.06 in full year 2010.

5. Asian exports were up approximately 27% in the fourth quarter 2011 to 1.0 million tons from 0.8 million tonnes in the fourth quarter 2010. For the full year, Asian exports were 4.7 million tonnes, up 42% from 3.3 million tonnes in the full year 2010.

6. Proven and probable reserves increased to 1.37 billion tonnes at December 31st 2011, up from 970 million tons at year end 2010 due to the successful acquisition of coal leases at the Antelope mine in Wyoming.

Mr Colin Marshall president and CEO of said that “Our fourth quarter operations were on plan, resulting in record shipments and record Adjusted EBITDA for the full year 2011. In 2011, we focused on maximizing our export opportunities, substantially increasing our reserve base and controlling costs with great success.”

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