
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, July 20, 1993                   TAG: 9307200054
SECTION: BUSINESS                    PAGE: B5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

PITTSTON CO.

Pittston Co., Stamford, Conn.-based parent of Pittston Coal Co. and operator of Southwest Virginia coal mines, reported consolidated net income for the second quarter of $14.1 million, or 39 cents per share, up 22 percent over $11.6 million, or 31 cents per share, during the second quarter of 1992. This year's second-quarter earnings include a pension credit of 5 cents per share.

Earnings for the first six months of 1993 totalled $22.3 million or 61 cents per share, up 19 percent compared with $18.8 million or 51 cents per share during the first half of last year.

Pittston's coal operations, many of which are in Southwest Virginia, reported an operating profit of $5.8 million in the quarter, down nearly $6 million from a year earlier. Coal prices averaged $1.73 per ton lower than a year earlier.

by CNB