Alliance Resource confirms outlook for 2008

Coal producer Alliance Resource Partners LP on Monday confirmed its 2008 outlook based on strong demand at attractive prices.

The Tulsa, Okla.-based company reiterated its guidance of $130 million to $160 million in net income and revenues of $1.03 billion and $1.1 billion, excluding transportation revenues.

Excluding interest, taxes, depreciation and amortization, the company projects income of $250 million to $280 million.

The company expects 2008 coal production in the range of 26.4 million to 27.3 million tons, essentially all of which is committed to contract pricing.

"We continue to experience strong demand at attractive prices for our coal in all of the markets ARLP serves," Joseph W. Craft III, president and chief executive, said in a statement.

Shares of Alliance Resource Partners climbed $1.51, or 3.4 percent, to $45.89 in morning trading.