today reported results for the second quarter of fiscal 2011.
Second quarter bookings increased 46 percent to $1.5 billion and net sales increased 19 percent to $1.1 billion, compared to
the same period last year. Operating income of $234 million was 22 percent of sales, compared to operating income of $181
million, or 20 percent of sales, in the second quarter of fiscal 2010. Net income for the second quarter was $162 million or
$1.52 per fully diluted share, compared to $120 million or $1.15 per share in the second quarter of last year.
today announced that it has entered into a definitive agreement to acquire a 100 percent ownership interest in LeTourneau
Technologies Inc. ("LeTourneau") from Rowan Companies, Inc. ("Rowan") (NYSE: RDC) for $1.1 billion in cash. LeTourneau
designs, builds and supports equipment for the mining and oil and gas drilling industries, and has been a leader in the
earthmoving equipment industry since the 1920s. The transaction has been approved by both companies' boards of directors.
Completion of the transaction is subject to the receipt of necessary regulatory approvals and other customary closing
conditions and is expected to occur within 60 days.
MILWAUKEE--(BUSINESS WIRE)-- Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions,
today reported first quarter fiscal year 2011 results. Bookings in the first quarter of fiscal 2011 were up 52 percent from a year
ago to $1.2 billion and net sales were up 19 percent to $870 million. Operating income of $154 million was 18 percent of sales
compared to $118 million, or 16 percent of sales, in the first quarter of last year. Net income for the quarter was $102 million or
$0.96 per fully diluted share compared to $76 million or $0.73 per share in the prior year first quarter.
MILWAUKEE, WI – January 29, 2011 – Joy Global Inc., a Milwaukee-based supplier of equipment and support to surface and underground mining operations worldwide, has donated US$100,000 through its Joy Mining Machinery and Joy Global Surface Mining business units to the Queensland Premier’s Flood Relief Appeal in response to recent devastating flooding in Eastern Australia.
MILWAUKEE--(BUSINESS WIRE)-- Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions,
today reported fourth quarter and full year fiscal 2010 results. Bookings in the fourth quarter increased by 48 percent to $1.0
billion compared to $705 million in the fourth quarter last year. Net sales for the current quarter increased by 9 percent to $1.0
billion compared to $964 million in the fourth quarter of fiscal 2009. Operating income totaled $227 million, a record margin for
a quarter of 21.6 percent of sales, versus $184 million or 19.1 percent of sales, in the prior year quarter. Net income in the
current quarter was $146 million, or $1.39 per fully diluted share, compared to $124 million, or $1.20 per fully diluted share, in
the prior year fourth quarter.
MILWAUKEE, Sep 01, 2010 (BUSINESS WIRE) -- Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity
mining solutions, today reported third quarter fiscal year 2010 results. New orders increased 51 percent as compared to the
third quarter of 2009. Net sales for the quarter were $850 million compared to $956 million in the third quarter of last year.
Operating income was $172 million, or 20 percent of net sales, in the current quarter versus $195 million, or 20 percent of net
sales, in the prior year. Net income in the current quarter was $119 million, or $1.13 per fully diluted share, compared to $124
million, or $1.21 per fully diluted share, in the prior year third quarter.
MILWAUKEE, Jun 03, 2010 (BUSINESS WIRE) -- Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity
mining solutions, today reported second quarter fiscal year 2010 results. Net sales for the quarter were $896 million compared
to $924 million in the second quarter of last year, a decrease of 3 percent. Operating income was $181 million, or 20 percent of
net sales, in the current quarter versus $188 million, or 20 percent of net sales, in the prior year. Net income in the current
quarter was $120 million, or $1.15 per fully diluted share, compared to $121 million, or $1.17 per fully diluted share, in the
second quarter last year.
WARRENDALE, PENNSYLVANIA – June 2010 – Joy Mining Machinery manufactured its 200th 7LS model shearer and shipped it to the Shaanxi Coal Group in China. That makes 200 JOY 7LS shearers shipped globally and 90 JOY shearers now in China.
MILWAUKEE, Mar 03, 2010 (BUSINESS WIRE) -- Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions, today reported first quarter fiscal year 2010 results. Net sales for the quarter were $729 million compared to $755 million in the first quarter of last year, a decrease of 3 percent. Operating income was $118 million, or 16 percent of net sales, in the current quarter versus $135 million, or 18 percent of net sales, in the prior year. Net income in the current quarter was $76 million, or $0.73 per fully diluted share, compared to $86 million, or $0.83 per fully diluted share, in the first quarter last year.
Joy Global announces a first-of-its-kind generation of loading equipment with the introduction of a new hybrid shovel. The P&H 2650CX is a diesel-electric rope shovel with an articulating hydraulic clamshell attachment designed to deliver a 65-ton payload. The machine will four-pass load 240-ton trucks and be capable of loading up to ultra- class 400 ton trucks.
Joy Global introduces the P&H 4800XPC, the company’s largest electric mining shovel, with a 135sT payload designed to three pass load 400sT ultra-class haul trucks. Built upon the proven performance of the P&H 4100XPC AC, its design leverages new Adaptive Controls technology (patents pending) with ultra-class machine structures to enable the larger payload and increase efficiencies.
WARRENDALE, PENNSYLVANIA, USA – January 16, 2012 - Joy Mining Machinery and J. H. Fletcher & Co. are pleased to announce the signing of an exclusive distribution and authorized service provider agreement. The agreement gives Joy the right to market, sell and service all Fletcher products to coal mines, as well as hard rock and industrial mineral mines that use Joy cutting products. This agreement which is effective immediately covers all locations worldwide with the exception of North America, Australia and Norway where Fletcher will continue to market, sell and service its products as it has in the past, and coal mines in Poland where Joy’s rights will not be exclusive.
Milwaukee, WI USA – Joy Global and ESCO Corporation announce today that they have entered into a strategic business alliance. Joy Global is a major producer of equipment for extraction of ores and minerals in surface mining, including P&H® Electric Rope Shovels, Blasthole Drills, Wheel Loaders, Draglines. ESCO Corporation is a leading developer and manufacturer of ground engaging tools and other wear products used primarily in mining and infrastructure development applications.
WARRENDALE, PENNSYLVANIA – March 2010 – Joy Mining Machinery has developed the JOY 14ED25 miner bolter with a rugged sump frame mechanism allowing simultaneous cut and bolt operations. The machine has been specifically designed for the Pittsburgh No. 8 seam and other thin-to-medium seam applications 1.8 to 3.0 metres (6 to 10 feet) with good roof conditions.