Boston, MA 04/07/2014 (wallstreetpr) – Cloud Peak Energy Inc. (NYSE:CLD) was awarded by American Technical Education Association (ATEA), in recognition of the company’s support to postsecondary technical education activities. The company was identified as one of the strongest allies to the technical education industry.
According to the award committee, the company has shown invaluable support to technical education, with the bulk of its support coming in the form of material and equipment donations, technical assistance and financial support.
ATEA is 1928 organization that is dedicated to excellent postsecondary technical education. The organization has greater emphasis on professional development, and companies like Cloud Peak Energy Inc. (NYSE:CLD) have been of great help to its activities.
CLD in business
Cloud Peak Energy Inc. (NYSE:CLD) is engaged in production and marketing of coal. Like most other coal companies, CLD faced a troubling year in 2013, amid low demand and poor prices. The company tried to boost its production and assume a more disciplined expenses and cost management program to improve revenue and earnings growth. Those efforts have paid off, as can be seen in the company’s last financial report.
The coal producer is also looking to increase its global market share, and efforts to increase supply to Asian markets have been responding well. For example, the company undertook coal test runs in Japan during the fourth quarter, results of which have been very good and might turn into long-term supply contracts when the West Coast terminal opens, according to CEO Colin Marshall.
Financial performance
Cloud Peak Energy Inc. (NYSE:CLD) suffered 70 percent drop in net income in 2013. But the stock price has risen steadily in the past six months, signaling improving conditions in the company and promising industry prospects.
The company reported earnings per share of 30 cents in the fourth quarter. That figure was better than what Wall Street expected at 24 cents. However, revenue trailed Wall Street expectation, coming at $353.2 million, against $363.56 million, but that was due to the poor demand and prices of the coal.
