Joy Global profit slips on lower sales

May 30, 2013 | 03:26 PM |

Tags  Joy Global, earnings report, mining equipment, Mike Sutherlin, eurozone, order backlog

CHICAGO — Mining equipment manufacturer Joy Global Inc. posted net income of nearly $181.6 million during its fiscal second quarter, down 15 percent from $213.6 million in the same period last year on sales that fell 11.7 percent to $1.36 billion.

"Revenues were down in line with expectations, (but) the quarter reflected strong execution against continued market headwinds," president and chief executive officer Mike Sutherlin said in a statement May 30. ....





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