today reported results for the second quarter of fiscal 2011.
Second quarter bookings increased 46 percent to $1.5 billion and net sales increased 19 percent to $1.1 billion, compared to
the same period last year. Operating income of $234 million was 22 percent of sales, compared to operating income of $181
million, or 20 percent of sales, in the second quarter of fiscal 2010. Net income for the second quarter was $162 million or
$1.52 per fully diluted share, compared to $120 million or $1.15 per share in the second quarter of last year.
today announced that it has entered into a definitive agreement to acquire a 100 percent ownership interest in LeTourneau
Technologies Inc. ("LeTourneau") from Rowan Companies, Inc. ("Rowan") (NYSE: RDC) for $1.1 billion in cash. LeTourneau
designs, builds and supports equipment for the mining and oil and gas drilling industries, and has been a leader in the
earthmoving equipment industry since the 1920s. The transaction has been approved by both companies' boards of directors.
Completion of the transaction is subject to the receipt of necessary regulatory approvals and other customary closing
conditions and is expected to occur within 60 days.
MILWAUKEE--(BUSINESS WIRE)-- Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions,
today reported first quarter fiscal year 2011 results. Bookings in the first quarter of fiscal 2011 were up 52 percent from a year
ago to $1.2 billion and net sales were up 19 percent to $870 million. Operating income of $154 million was 18 percent of sales
compared to $118 million, or 16 percent of sales, in the first quarter of last year. Net income for the quarter was $102 million or
$0.96 per fully diluted share compared to $76 million or $0.73 per share in the prior year first quarter.
MILWAUKEE--(BUSINESS WIRE)-- Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions,
today reported fourth quarter and full year fiscal 2010 results. Bookings in the fourth quarter increased by 48 percent to $1.0
billion compared to $705 million in the fourth quarter last year. Net sales for the current quarter increased by 9 percent to $1.0
billion compared to $964 million in the fourth quarter of fiscal 2009. Operating income totaled $227 million, a record margin for
a quarter of 21.6 percent of sales, versus $184 million or 19.1 percent of sales, in the prior year quarter. Net income in the
current quarter was $146 million, or $1.39 per fully diluted share, compared to $124 million, or $1.20 per fully diluted share, in
the prior year fourth quarter.
MILWAUKEE, Sep 01, 2010 (BUSINESS WIRE) -- Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity
mining solutions, today reported third quarter fiscal year 2010 results. New orders increased 51 percent as compared to the
third quarter of 2009. Net sales for the quarter were $850 million compared to $956 million in the third quarter of last year.
Operating income was $172 million, or 20 percent of net sales, in the current quarter versus $195 million, or 20 percent of net
sales, in the prior year. Net income in the current quarter was $119 million, or $1.13 per fully diluted share, compared to $124
million, or $1.21 per fully diluted share, in the prior year third quarter.
WEST CHESTER, PENNSYLVANIA – June 2010 – Joy Mining Machinery manufactured its 200th 7LS model shearer and shipped it to the Shaanxi Coal Group in China. That makes 200 JOY 7LS shearers shipped globally and 90 JOY shearers now in China.