Puda Coal, Inc. (PUDA) Reports Financial Results for Third Quarter of 2010
Puda Coal, Inc. reported a strong year over year increase in sales and a solid net profit in the quarter ending September 30, 2010, as the company benefited from higher volumes and better realized prices for sales of metallurgical coal. Puda Coal, Inc. reported sales of $90 million in the third quarter of 2010, compared to sales of $56.1 million in the corresponding quarter of 2009. The company sold 651,000 tons of metallurgical coal during the quarter, compared to 498,000 metric tons in the same quarter of 2009. Puda Coal, Inc. sold its metallurgical coal at an average price of…