Alpha Natural Resources first quarter "better than expected"

POSTED: 1:14 PM May 02 2013   UPDATED: 5:31 PM May 02 2013

Alpha Natural Resources leaders say despite a widening loss in the first quarter, they did better than expected.

The Bristol, Virginia based coal company posted a loss of more than $110 million for the period.  Last year, it was $28.7 million. Revenue fell 31 percent.

Analysts attribute the loss to a lack in demand for coal as utilities turn to natural gas. Also, foreign steel production is down.