Feb 27 Mining equipment maker Joy Global Inc
posted a first-quarter profit that came above analysts'
expectations, but said aftermarket orders declined from the
Aftermarket and original equipment bookings decreased 20
percent and 26 percent from the fourth quarter, when they posted
an increase. The orders fell due to weakness in Australia, South
America and Africa resulting from demand and timing issues.
Though aftermarket orders are expected to recover from the
first quarter, Joy Global said full-year orders will still be
The company reaffirmed its 2013 net earnings forecast of
$5.75 to $6.35 per share and revenue of $4.9 billion $5.2
Net income fell slightly to $142.1 million, or $1.33 per
share, in the first quarter, from $142.5 million, or $1.33 per
share, a year earlier.