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Last Update: 14-Dec-11 09:43 ET
Joy Global Trading Sharply Lower Following Earnings/Guidance Results
Joy Global (JOY $80.18 -4.37) is trading over 5% lower following earnings/guidance results, which were released earlier this morning.
Earlier, the company reported fourth quarter earnings of $1.90 per share, excluding non-recurring acquisition cost of $0.07, and may not compare to $1.87 CIQ estimate.
Revenues rose 27.3% year/year to $1.34 billion versus the $1.35 bln consensus.
In fiscal year 2012, the company is expecting earnings guidance of $7.00 to $7.40 vs. $7.24 Capital IQ Consensus Estimate; expects revenues to fall in the range of $5.3 billion to $5.5 billion versus the $5.4 billion Capital IQ Consensus Estimate. Fourth quarter bookings increased 33% to $1.4 bln in fiscal 2011, compared to the fourth quarter of last year.
Earlier, the company reported fourth quarter earnings of $1.90 per share, excluding non-recurring acquisition cost of $0.07, and may not compare to $1.87 CIQ estimate.
Revenues rose 27.3% year/year to $1.34 billion versus the $1.35 bln consensus.
In fiscal year 2012, the company is expecting earnings guidance of $7.00 to $7.40 vs. $7.24 Capital IQ Consensus Estimate; expects revenues to fall in the range of $5.3 billion to $5.5 billion versus the $5.4 billion Capital IQ Consensus Estimate. Fourth quarter bookings increased 33% to $1.4 bln in fiscal 2011, compared to the fourth quarter of last year.
