Joy Global Inc., a worldwide leader in high-productivity mining solutions, reports its fourth quarter and full year fiscal 2012 results.
Net sales in the fourth quarter increased 19% to $1.6 billion compared to the same period last year. Operating income was $326 million, or 20% of sales, in the fourth quarter of 2012, compared to operating income of $296 million, or 22% of sales, in the fourth quarter of 2011. Income from continuing operations was $212 million or $1.99 per fully diluted share for the fourth quarter compared to income from continuing operations of $195 million, or $1.83 per fully diluted share in the fourth quarter of 2011. Earnings per share were reduced by $0.06 in the quarter due to restructuring costs, $0.07 due to pension curtailment charges and $0.01 due to excess first year purchase accounting charges at International Mining Machinery (IMM). Fourth quarter bookings decreased 5% to $1.3 billion in fiscal 2012 compared to the fourth quarter of last year, but were up 22% sequentially from the third quarter.
Read the full press release to see a further breakdown of Joy Global's 2012 financial results.
