Sales revenue was $162.05 million, compared to $149.47 million in the December quarter 2009.

For the whole year, net income was $78.2 million, versus $51 million in 2009. Revenue was up 3% year-on-year to $701.1 million from $681.6 million.

"This was another very profitable year for James River,” company chairman and chief executive officer Peter Socha said, noting that the producer was pleased to generate such profits during a soft market and overall recession.

“We are now seeing clear signs of an improving coal market and an improving economy. We have invested in our company during the downturn, and are looking forward to seeing the benefit of these investments during the months and years to come."

The company’s capital expenditures for the fourth quarter were $35.7 million, nearly a third of its whole-year capex of $94.5 million. The quarter’s expenses included about $15.5 million for growth projects and federal safety mandate compliance efforts.

The company did not offer a guidance outlook in its earnings review, as it simultaneously announced its pending acquisition of International Resource Partners and Logan & Kanawha. A guidance report will follow the closing of that transaction.

James River Coal operates six complexes in eastern Kentucky and in southern Indiana which include 14 underground mines, 10 surface mines and 10 preparation plants. At year-end 2009, it controlled about 271.1 million tons of proven and probable coal reserves.