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Massey Energy CEO Don Blankenship says he won't resign after mine explosion

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Thursday, May 6, 2010

MINING

Massey Energy chief says he won't resign

Massey Energy chief executive Don Blankenship, whose Richmond-based company is under investigation after a deadly explosion at its Upper Big Branch coal mine in West Virginia, said he has no plans to resign.

"Whatever happened at UBB is something that needs to be figured out, but it's not the result of my management style," Blankenship, 60, said in an interview.

-- Bloomberg

EARNINGS

NCI reports higher income and revenue

NCI said its net income rose 17 percent in the first quarter to $5.5 million, or 39 cents per share, from $4.7 million, or 34 cents per share, a year ago.

The Reston company, providing information technology, engineering and other services to federal agencies, said revenue rose to $115 million from $105 million.

-- Associated Press

EARNINGS

Coal company Alpha says net income fell

Coal producer Alpha Natural Resources said its first-quarter net income fell 66 percent because of $95.8 million in tax and merger costs.

The company, based in Abingdon, Va., said it earned $14 million, or 12 cents per share. Alpha earned $41 million, or 58 cents per share, in the same period last year. Revenue nearly doubled to $922 million, from $486 million in the first quarter of 2009, because of Alpha's acquisition of Foundation Coal last year.

-- Associated Press


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