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Joy Global Inc Issues FY 2013 Guidance


Wednesday, 12 Dec 2012 06:00am EST 

Joy Global Inc announced that for fiscal 2013, it expects earnings per fully diluted share to be between $5.90 and $6.50 on revenues of $4.9 billion to $5.2 billion. The Company will continue restructuring in 2013, with the focus on balancing and optimizing our global manufacturing footprint. These costs are expected to be approximately $25 million, including the disposition or write-down of related assets. The timing of the projects is concentrated in the second half of 2013, and the expected payback is 9 months. As a result, almost all of the savings will be realized in fiscal 2014. Incorporating these restructuring costs, the fiscal 2013 guidance becomes $5.75 to $6.35 of earnings per fully diluted share on the same revenues of $4.9 billion to $5.2 billion. 

Company Quote

63.87
-0.18 -0.28%
4:03pm EDT