Coal producer Patriot Coal Corp. on Tuesday reported decline in net income for the fourth quarter mainly due to restructuring and impairment charges. Revenues in the 2009 fourth quarter dropped to $503.2 million, compared to $506.2 million in third quarter due to lower tons sold, partially offset by higher average selling prices.

Revenues for 2009 increased $390.7 million compared to 2008, primarily due to the inclusion of a full year of Magnum results, partially offset by lower thermal coal volume in 2009. Revenues in the 2009 fourth quarter were $37.9.

EBITDA in the 2009 fourth quarter was $32.5 million, compared with $25.4 million in the prior quarter. EBITDA of $110.7 million for 2009 increased 150 percent compared with $44.2 million for 2008. EBITDA was negative $11.8 million in the year-ago quarter.

For fiscal 2009, net income declined to $127.24 million or $1.49 per share from $142.73 million or $2.21 per share in the previous year. Total revenues for the year were $2.05 billion, up from $1.65 billion in the previous year.

For 2010, the Company currently anticipates sales volume in the range of 33.0 to 35.0 million tons. This includes metallurgical coal sales of at least 6.5 million tons, representing a meaningful increase over the 5.4 million tons sold in 2009. Additionally, this guidance incorporates the impact of moves at both longwalls in the first quarter of 2010 and extended moves mid-year as both longwalls relocate to new areas within the mines.