Joy Global, Inc., a Milwaukee-based mining equipment manufacturer, said its first quarter profits jumped by 39%, to $142.4 million, and announced it has raised its 2012 forecast due to a robust outlook for mining equipment capital spending.
The company’s net income amounted to $1.33 per share, up from a profit of $102.2 million or 96 cents per share, in the same quarter of 2010. The per-share performance was just below analyst expectations of $1.35 per share.
Joy Global is upgrading its 2012 full-year earnings forecast to between $7.40 to $7.80 per share.
For more details on net income and sales, read thefull press release published by Joy Global.
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