CONSOL Energy Inc, a diversified fuel producer in the Eastern U.S., has reported a record revenue of $1.337 billion for the quarter ended Dec. 31, 2010.  

Officials with CONSOL Energy said that the company's coal division led the 10 percent year over year increase by posting record coal revenue of $1.067 billion for the fourth quarter, driven by sales of 17.0 million tons.

Company officials said that CONSOL Energy reported GAAP net income of $104 million, or $0.46 per diluted share, in the quarter ended Dec. 31, 2010 compared to $143 million, or $0.78 per diluted share, in the quarter ended Dec. 31, 2009.

Adjusted earnings were $122 million, or $0.54 per diluted share, for the fourth quarter.

According to company officials, during the quarter, CONSOL Energy had legal accruals and settlements, and additional acquisition and financing fees that totaled $14 million. The company also recorded charges of $16 million for asset abandonments and property which cost more than fair value.

“CONSOL Energy delivered strong operational and financial performance again in the fourth quarter.  Our team continued to drive towards our goal of ZERO accidents and showed safety improvements from the third quarter,” said J. Brett Harvey, chairman, president, and CEO of CONSOL Energy, in a statement.  

Harvey said that other achievements included record revenue, substantial cash flow generation and strong production numbers in both the coal and gas divisions.

"We will continue to seek international sales opportunities where our coal can command the highest prices. CONSOL's marketing strategy for 2011 is to continue to develop new overseas markets into which we can sell our high-vol met coal. We believe India has great potential and is the next market we will target for high-vol met coal sales from our Northern Appalachia mines," he said.

Back in July, RingCube Technologies, a provider of managed virtual workspaces, announced that Consol Energy selected RingCube (News - Alert) vDesk to help centralize management of PCs and regulate overall performance of desktop computing in its underground mining systems.

RingCube vDesk is a enterprise desktop virtualization solution. RingCube's virtual workspace technology separates the user's desktop environment including applications, data and settings from the operating system and encapsulates it into a secure container while backing up every virtual desktop to a centralized server.

Want to learn more about the latest in communications & technology? Then be sure to attend ITEXPO East 2011, taking place Feb 2-4, 2011, in Miami. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. To register, click here.