Joy Global outlook upbeat despite plunge in earnings

Mar 06, 2014 | 01:30 PM | Catherine Ngai

Tags  Joy Global, steel outlook, mining, coal market, mining equipment, earnings report, Edward

NEW YORK — Joy Global Inc.’s net income plunged 65.6 percent in its fiscal first quarter compared with a year earlier due in part to lower sales by its original equipment segments.

But the Milwaukee-based company said it was bullish on the market outlook. "Forecasts for 2014 project global growth in excess of 3.5 percent, and for the first time in nearly two years the eurozone is expected to see positive growth of over 1 percent," the company said in its earnings report March 6.....

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