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Show Page Eight - The Pyramid - February 3, 1999 Ephraim library Arch Coal breaks even ST. LOUIS Arch Coal, Inc. (NYSErACI) recently reported break-eve- n results, for the fourth quarter ended Dec. 31. In comparison, Arch had net income of $21.1 million, or $.53 a share, for the same period of 1997. Revenues for the fourth quarter totaled $415.5 million vs. $342.5 million in the same period of 1997. Increases in both revenues and sales tonnage were attributable to the June 1 . acquisition of the ARCO operations. "Arch Coal is disappointed by , recent results and are working aggressively to improve them," said Steven F. Leer, Arch Coal president and chief executive officer. "Among the difficulties adversely affecting performance, were continuing delays in the issuance of a new surface-minin- g permit at Dal-Te- x. " "In addition." he further stated. "West Elk mine has been forced to operate at significantly reduced levels of production because of insufficient rail service. That, in turn, has contributed to higher costs at that operation. Furthermore, bitterly cold weather m December hindered both equipment and rail pertor-rnanc- e at Black Thunder and Coal Creek mines in Wyoming as well as other western operations " Arch . During the quartet. continued its program of divestassets. Included ing in the quarter's results was an after-ta- x gain of $4.6 million from the sale of an idle coal dock in Wayne County. WV. That gam was partially offset by an after-ta- x charge of $2.4 million associated with Archs routine, periodic review of reclamation accruals. EBITDA remains strong "Even with the challenges faced in the fourth quarter, cash flow remained relatively strong," Leer said. "For the quarter, EBITDA totaled $85.3 million vs. $72.4 million in the same quarter a year ic ago." Leer further stated that t h e ability to generate high levels of cash even in difficult earnings periods as a continuing strength of the company. Total debt increased by $68.7 million during the quarter, due to unusually large cash outflows related to the first of five payments on the Thundercloud federal lease, which yas acquired in October. A tax settlement with the IRS related to periods prior to 1995. The purchase of additional reserve at the Mingo Logan complex and the repurchase of 273,000 shares of Arch Coal common stock. For 1998, Arch Coal had net income of $30 million or $.76 per sharev These results included after-ta- x a one-tim- e charge in the second quarter of $1.5 million, or $.03 pei share, related to the early terminal. on of certain Arch credit facilities and the redemption of $35.7 million in senior notes. In 1997, Arch Coal h?d net $30.3 million, or income of $1.00 a share, which included a after-ta- x one-tim- e charge of $23.8 million related to the merger with Ashland Coal. The 1997 results also included contract that exa pired at Dec. 31, 1997. Arch had EBITDA of $313.5 million in 1998 vs. $269.0 million a year ago, which excluded the merger-relate- d charge discussed previously. Revenues totaled $1.5 billion in 1998 compared to $1.1 billion in 1997. Coal sales totaled 81.1 million tons vs. 40.5 million tons in 1997. Again, the increases were attributable to the June 1, 1998. acquisition of ARCO operations announced. As previously Arch expects continued earnings weakness in 1999. The delayed start of development work on the will new permit area at Dal-Te- x lead to a tough 1999, even if the permits are issued immediately. Rail service at West Elk may limit coal shipment again in 1999. Two small operations, the Conant Mine in southern Illinois and Arch of Wyoming in Hanna Basin, face deteriorating markets for products. Finally, lower than in sales expected escalations and contracts and the of several large renegotiation contracts with a large customei. will hurt profitability. high-marg- in Local kids present Wiz of the West MT. PLEASAN- T- Missoula Childrens Theatre (MCT) and over 50 local students will perform an original music production of "The Wiz of the West" on Saturday, Feb. 6. Performances will be held at 2:30 and 6:30 p.m. in the North Sanpete High School Auditorium. There will be a small admission charge at the door. The audience will follow friends from the Land of Oz through the wild west of yesteryear, it will be a fairy tale with a twang. The MCT residency in Mt, Pleasant is presented locally by North Sanpete School District, local PTA, and the Utah Arts Council. For more information call Avrin Brothersen at ATTENTION!! All Mt. Pleasant young women between the ages The Miss Mt. Pleasant Pageant will beheld March 20, 1999 Theme: Forever Young Sin ti between Jantmi) 28 lo 16-2- 5: February 19 at Mt. Pleasant City Hall Fur information call: Lou Ann llosenloaf, 162-215- 6 Tracy Johansen,' 162-2- 0 or 11 Hgp Announcing a New Service for Missionaries! Now Available at The Pyramid 49 West Main, Mt. Pleasant (435) Letters $ 1 00 Packages in 462-213- 4 $ hosts discussions "During the past two years, we have focused on seizing growth opportunities in a rapidly industry." Leer consolidating said. "During that time frame, we have grown dramatically, increasing production roughly fourfold." He further stated, "In 1999, the company will direct full attention to aggressively paying down debt, improving productivity, strengthening cash generation, improving earnings from recent levels, and continuing to evaluate and and sell assets. The recent announcement of the amendment of the Intermountain Power coal supply agreements is a strong start to these initiatives." under-performi- ic ng EBITDA is presented above because it is a widely accepted financial indicator of a companys ability to incur and service debt, EBITDA should not be considered in isolation or as an alternative to net income, operating income, cash flows from operations, or as a measure of companys profitability, liquidity or under generally performance accepted accounting principles. Arch Coal is the nations second largest coal producer, with subsidiary operations in West Virginia. Kentucky, Virginia, .Illinois, Wyoming. Colorado and Utah. Through these operations, Arch Coal provides approximately 6 percent of the electricity generated in the United States. TBSI learn wood carving EPHRAI- M- The theme of the latest literary series, by Human Pursuits and the Ephraim Public Library, is "The Bridges That Unite Us." Much like the previous series, "The Language That Unites Us", the projects objective is for participants to gain an appreciation for the rich fabric and experience of Latinos through literary expression. Two scholars have been selected who will guide discussions. Gary Parnell, of Snow College, will discuss "I Rigoberto Menchu" dictated by Rigoberta Menchu and edited by Elisabeth Burgos-Debra- y on Wednesday, Feb. 24 and "The Postman (II Postino)" by Antonio Skarmenta on May 19. Dr. Howard Quackenbush, from Brigham Young University, will discuss "Dreaming in Cuban" by Cristina Garcia on March 24, and "First Encounters" by Sabine R. Ulibarri on April 21. Each of the programs are scheduled to begin at 7:00 Winners of the North Sanpete District Spelling Bee held at the Middle School Jan. 26 are: back row (left to right) Kendell Fowler, fourth place, fifth grade, Fountain Green Elementary; Bryan Hooley, third place, sixth grade, Fairview Elementary; front row (left to right) Kylara Papenfuss, second place, seventh grade, N.S. Middle School; Wesley Jurkatis, first place, fourth grade, Fairview Elementary. Council hears resource officer consideration p.m. Those interested are encouraged to stop in at Ephraim Public 4 Library or call during to hours library get information and reserve copies of books. David Knowlton, the bilingual director of Human Pursuits, has said that, "A wealth of fine litera-- , ture expresses the background from which these Americans qome and the transitions they undergo to become U.S. Lati- nos. ii "Such works help Latinos to better understand their own diverse origins as well as their roles and choices within the American framework," he said. The same works help citizens appreciate the complexity of immigration and acculturation as well as understand the rich diversity of Latino heritage. "This discussion series has been made possible by the National Endowment for the Humanities," said Knowlton. "Expanding Americas understanding for more than 30 years, of who we were, who we are, and who we will be. " 283-454- by C.R. Truitt NORTH SANPET- E- North Sanpete School District Superintendent Dennis Mower made a written presentation on the "Interlocal Agency Agreement laying out terms and cost for the North Sanpete School District to hire a resource officer in connection with the county sheriff s office and local towns, at a Jan. 13, council meeting. According to the agreement, funding will come from grants, various agencies, and local communities with a total cost of $44,632 the first year, $43,426 the second year, and $50,667 the non-Lati- by Holly Lynne Simonsen EPHRAI- M- From crowning the Corinthian columns on the Sanctuary of Athena and the Roman Pantheon, to proclaiming the classical beauty of the Governors Mansion, acanthus leaves have been carved on furniture and architecture for ages. Traditional The Building Skills Institute (TBSI), Snow College students now rank with the Greeks and Romans in their power of creation. TBSIs latest workshop emphasized teaching the important skills necessary for professional architectural wood carving. Each student worked on carving an acanthus leaf in order to gam a better understanding of carving principles. Snow students had the opportunity to learn from British Master Carver, Ian Agrell. Agrell is the top designer in his field. His clients include Kensington Palace, Pope John Paul II, the Getty family, and several other palaces and cathedrals all over the world. Wilson Martin, Department State Historic Preservation Officer, was also in attendance. He stressed the importance and demand for traditional skills in todays market. Martin also states that Snow College is one of the best in the country because "we have great talent in Utah." Utahs rich history and religious background offer several traditional restoration projects including LDS temples, original pioneer homes, and the Joseph Smith Memorial Building in Salt Lake City. Robert Young from the University of Utah Graduate School of Architecture taught the Conservation Lecture the fist day of the workshop. He underlined the importance of students becoming comfortable with traditional tools. The TBSI program alleviates the stress of working with" new materials, creates a sense of confidence in students and teaches skills that may apply to several majors. third. Grant money starts at $28,632 the first year, then drops to $21,575 the second and third years. The difference Would be Prom slated for March 15 MT. PLEASAN- T- The traditional Junior Prom, with promenade and floor show, will be held on March 15 in the North Sanpete High School Gymnasium, an event the community looks forward to as the social event of the season. The district policy, as outlined in the student handbook states, each year, the prom committee and the junior class will meet to vote on how the details of the prom will be carried out. In recent years, students have requested to be allowed more influence in prom preparation. Students have voted to make the second night March 16, a postprom experience, rather than the traditional formal dance. The majority of junior students preferred to have a play popular songs instead of hiring a band. Dispense with the promenade and floor show,, and have the option of wearing either formal or semi-formattire on Saturday night. Seating for the Friday night prom will be limited and is intended mainly for parents and grandparents. It is suggested that small children and babies not attend. All spectators and participants will be charged one ticket price. disc-jock- ey made up by communities on a population basis. and agencies Communities asked to be involved are North Sanpete School District, Sanpete Fountain Fairview, County, Green, Moroni, Mt. Pleasant, Spring City, and Wales. Cost breakdowns, which could change, were laid out as follows, North Sanpete School District,. $4,463; Sanpete County, $1,857; Fountain Fairview, $1,569; Green, $1,015; Moroni, $2,377; Mt. Pleasant, $3,530; and Spring City, $1,177. The Sheriffs Office would provide financing, joint employment, evaluate the officer, supply law enforcement equipment, vehicle and training expense. maintain tne officer and financial records, and handle the officers pay and benefits. The School District will supply financing, employment, evaluation of the officer, office equipment, housing, and school related training. The officer will have an office in the high school. The resource officers duties will include, abstaining from alcohol, tobacco, drugs and serve ' as behavior, improper "Officer Friendly to teach safety to kindergarten through third grade. He will teach the DARE program in 7 through 12 grades, other and safety programs to schools and communities. The officer will investigate juvenile related crimes with the help of school principals, identify and counsel student offenders and crime-preventio- self-defen- se n, parents. He will act as liaison with crime prevention, community enforce district and community policies, laws and ordinances, and represent make leperts, communities in the council. The officer will also facilitate development of a North Sanpete Mower Court. Youth area stressed the Youth Court as being of primary importance. . In addition, the officer will dress both casually and in uniform as the situation demands. Mower maintained that even though he would dress casually at times, everyone will know who he is. . Volleyball standings Co-e- d volleyball MT. PLEASAN- T- In co-e- d volleyball action this week, it was Blains defeating Ivory Fi15-nancial 15-T. Alder Construction beat Attorneys 15-Title Doyles Diesel defeated Heirtzlers in three and games 15-Black Sheep over Holdens and Spring City over Jorgensens. 7, 15-1- 3, 9. 9. 7, 15-1- 3, 15-1- 0; al 3-oi- i-3 Standings 1H Spring City to hold blood drive SPRING CIT- Y- The American Red Cross will be holding a blood drive in the Spring City LDS Church on Thursday, Feb. 4, from 4 to 8 p.m., blood typing will be done. Dwbf6AC 462-- 1 7:30 Tuds City A tA frcofa - Sht 50 Packages 1 & up by Monday at 5 p.m. will be delivered to MTC on Tuesday No special packaging necessary No perishable items please! CARPET SALE Lu4cw SHOP AT HOME CARPETS 32 beautiful colors Call Robert 3 782 43 5-- 42 service Contractors welcome 24-ho-ur patf. 7-- ?-S- sq only CotfE n TY (poor |