{Richmond, Virginia}...Thursday, Richmond-based James River Coal Co. reported a second-quarter net loss of $25.8 million, or 74 cents per share, compared with net income of $789,000, or 2 cents per share, a year earlier. Revenue from coal sales fell about 21 percent to $259.6 million. Including freight and handling, revenue was $277.4 million. Coal shipments fell about 11 percent to 2.91 million tons from 3.26 million tons a year earlier. The company says the switch to cheap natural gas to generate electricity instead of coal and a mild winter in the U.S. hurt demand, and the recession in many European countries, combined with a slowdown in Asia, stifled exports. But, it says demand for coal used in power generation is showing signs of recovery. James River Coal has operations in Kentucky, West Virginia and Indiana.
