Mining equipment manufacturer Joy Global Inc (JOY) said Thursday fourth quarter net profit rose 18 percent, thanks to recent acquisitions together, with orders to bring our customers increase growth.
However, the company warned, due to the decline in demand for commodities, the recent growth rate may slow down production. Health and material needs of the global economic uncertainty may result in the customer contract orders.
Joy Global expects fiscal 2012 earnings per share 7-7.40 on revenue of $ 5.3 billion -55 billion. Analysts polled by FactSet accepted the company expected full-year profit of $ 7.18 per share, on revenue of $ 5.4 billion.
Fourth quarter, Joy Global net profit last year from $ 146 million share, $ 1.39, to $ 172 million, $ 1.61 per share.
Latest results include the acquisition of drilling and mining equipment manufacturer LeTourneau Tech 7 cents per share related to expenses. Continuing operations adjusted earnings per share $ 1.82, lower than analyst expectations of $ 1.86.
Revenue rose 27 percent, from 1.05 billion a year earlier to $ 1.34 billion, below analyst expectations of $ 1.36 billion.
Fourth-quarter orders grew 33%, to 13.9 billion, including $ 116 million from LeTourneau.
2011 fiscal year, Joy Global profits $ 610 million, $ 5.72 per share. Revenue rose 25%, to 35.2 billion U.S. dollars.
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