Joy Global Inc. (NYSE:JOY) is a leading manufacturer and servicer of high-productivity mining equipment for the extraction of coal and other minerals and ores. China today has a cheap stock market, vibrant economy, a broadening industrial base and consistent political background. Joy Global presently has a market cap of $6.69 billion and P/E ratio of 8.6, below the S&P 500 P/E ratio of 17.7. Expect Joy to be a winner as China's economy rebounds.
First-Quarter Fiscal 2013 Results
Net sales in the first quarter were up 1 percent to $1.1 billion compared with the same period last year. Operating income was $221 million in the first quarter of 2013, compared with operating income of $214 million in the first quarter of 2012 and was 19 percent of sales in both years. Income from continuing operations was $142 million or $1.33 per fully diluted share for both periods. First-quarter bookings decreased 29 percent to $1.0 billion in fiscal 2013 compared with the first quarter of last year...
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