Corsa Coal Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Updates Sales Guidance for the Year Ending December 31, 2016
For the six months period, the company reported revenues of $35,275,000 compared to $71,036,000 a year ago. Net and comprehensive loss was $16,349,000 compared to $37,347,000 a year ago. Adjusted LBITDA was $2,415,000 compared to $302,000 a year ago. Cash used in operating activities was $4,525,000 compared to cash provided by operating activities of $6,818,000 a year ago.
The company updated sales guidance for the year ending December 31, 2016. For the full year, the company expects total sales of 1,350,000 to 1,650,000 tons.