Shares of Joy Global(JOYG Quote) were among the Nasdaq's winners Monday, jumping 10% after the mining equipment maker posted fourth-quarter results that beat expectations.
The company earned $85.2 million, or 71 cents a share, on revenue of $689.3 million. The results included a tax charge of about $10 million, which cut earnings by 8 cents a share. Analysts polled by Thomson First Call expected earnings of 66 cents a share on revenue of $655.6 million. During the year-earlier period, the company earned $56.3 million, or 45 cents a share, on revenue of $568.2 million.
Looking ahead, Joy Global forecast fiscal 2007 earnings of $2.85 to $3.25 a share, in line with analysts' average estimate of $2.95 a share. The company predicts fiscal 2007 revenue of $2.7 billion to $3 billion, compared with Wall Street's projection of $2.84 billion. Shares were trading up $4.40 to $48.63. ...
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