Westmoreland Coal Company Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Impairment Loss for the Fourth Quarter ended December 31, 2017
For the full year, the company has posted revenues of $1,384,568,000 against $1,477,960,000 a year ago. Operating income was $39,212,000 against $38,130,000 a year ago. Loss before income taxes was $79,025,000 against $76,931,000 a year ago. Net income applicable to common shareholders was $71,340,000 or $3.82 basic and diluted per share against $27,101,000 or $1.47 basic and diluted per share a year ago. Net cash provided by operating activities was $114,163,000 against $151,934,000 a year ago. Additions to property, plant and equipment was $35,016,000 against $46,132,000 a year ago. EBITDA was $200,827,000 against $262,333,000 a year ago. Adjusted EBITDA was $268,332,000 against $271,855,000 a year ago. Net debt as of December 31, 2017 was $972.7 million.
For the quarter, loss on impairment were $5,872,000.