Alpha Reports First-Quarter Net Loss

• Alpha Natural Resources Inc. has reported a first-quarter net loss of $29.1 million or 13 cents a share on revenue of $1.9 billion. Alpha announced production cuts in February that will reduce annual output by about 4 million tons, and Kevin Crutchfield, Alpha's chief executive officer, has hinted that even bigger cuts are in the works. He says changes to be announced will reduce Alpha's steam coal production by the equivalent of an additional 7 million tons a year. Crutchfield says unusually mild winter weather and decade-low natural gas prices have significantly reduced domestic steam coal consumption and driven utility inventories to near record levels. The market for low-quality metallurgical coal also has weakened so Alpha will reduce production by the equivalent of 500,000 tons a year.