U.S. Markets close in 3 hrs 44 mins

L&L Energy shares soar on FY projections

SEATTLE (AP) -- L&L Energy Inc.'s shares jumped Monday after the coal company reported steep increases in profit and revenue for its recently ended fiscal year.

Based on preliminary results, L&L said it posted a profit of $38.4 million, or $1.03 per basic share, for the year ended April 30. That's up from $14.2 million, or 43 cents per basic share, in fiscal 2012.

The recent year's results included 5 cents per share in derivative losses.

Revenue jumped 76 percent to $199 millon.

The Seattle-based company, which has coal operations in China, expects to report full results by Tuesday.

L&L shares were up 21 cents, or 6.7 percent, to $3.36 in afternoon trading, after peaking at $3.60. Over the past 52 weeks, the stock has traded between $1.51 and $4.94.