Contact Information: FOR MORE INFORMATION: Jennifer Hulbert EDGARfilings, Ltd. info@EDGARfilings.com (713) 621-1897
Alpha Natural Resources Among First U.S. Companies to Usher in New Era of XBRL Filing
EDGARizerX Software Credited With Company's Transition to XBRL
| Source: EDGARfilings, Ltd.
HOUSTON, TX--(Marketwire - June 30, 2008) - Alpha Natural Resources didn't wait long to
test the waters of the new US GAAP Taxonomy (UGT).
On June 23, the first day companies could file their XBRL documents using
the new UGT, the supplier of high-quality Appalachian coal to electric
utilities, steel producers and heavy industry became the first company to
file its XBRL documents using the new US GAAP Taxonomy with the Securities
and Exchange Commission (SEC).
Using EDGARfilings' EDGARizerX software, the most advanced tool available
for filing XBRL compliant-instance documents with the SEC, Alpha Natural
Resources is also the first company from the mining industry to begin
filing XBRL with the SEC.
XBRL, or eXtensible Business Reporting Language, is a set of extensions
developed for the electronic communication of business and financial data.
A barcode for business reporting, XBRL converts financial information into
a computer readable format.
Under a set of recently proposed rules, the SEC is considering requiring
filers to start filing XBRL as early as January 2009. However, a number of
companies are opting to file earlier in the year due in large part to
XBRL's benefits.
"Our company embraced XBRL early on," says Ted Pile, Vice President of
Communications and Corporate Affairs for Alpha Natural Resources. "The
technology makes our financial information far more accessible, transparent
and useful to investors and the public at large. Plus, by being an early
adopter, we are able to meet the mandate of the SEC ahead of schedule
without rushing to meet the upcoming filing deadlines."
Many other companies are jumping on the XBRL bandwagon, eager to stay ahead
of the curve and comply before the impending deadline arrives, according to
Andrew Neblett, chief executive officer of EDGARfilings.
"Implementing XBRL doesn't have to be as difficult as many companies
perceive," he says. "Once an organization finds the solution that best
fits its needs, the process is a smooth one."
Neblett says organizations are far less intimidated by the XBRL
implementation process once they have an opportunity to work with the
EDGARizerX product.
"Users will find EDGARfilings' EDGARizerX is the most advanced and
easy-to-use XBRL software application on the market," he says. "Just like
our EDGARizer software, EDGARizerX enables users to become proficient
publishers of their own documents in no time at all."
About Alpha Natural Resources
Alpha Natural Resources is a leading supplier of high-quality Appalachian
coal to electric utilities, steel producers and heavy industry.
Approximately 89 percent of the company's reserve base is high Btu coal and
82 percent is low sulfur, qualities that are in high demand among electric
utilities which use steam coal. Alpha is also one of the nation's largest
producers and exporters of metallurgical coal, a key ingredient in steel
manufacturing. Alpha and its subsidiaries currently operate mining
complexes in four states, consisting of 57 mines feeding 11 coal
preparation and blending plants. The company and its subsidiaries employ
approximately 3,600 people.
About EDGARfilings
EDGARfilings is the leading provider of EDGAR filing solutions, serving
thousands of financial, legal, accounting and corporate clients across the
globe. EDGARfilings provides the quickest, easiest and most accurate way to
file with the SEC. EDGARfilings' XBRL technology is the only solution that
moves seamlessly from HTML to XBRL and files directly with the SEC. More
Fortune 500 companies, law firms and printers trust their SEC compliance to
EDGARfilings than any other provider.
For more information, visit www.EDGARfilings.com