More on Joy Global FQ4: Impairment charge hits net profit

|About: Joy Global Inc. (JOY)|By:, SA News Editor

Joy Global's (JOY) net profit from continuing operations plunges 87% to $26.8M, due to a $155M pretax asset-impairment charge.

Bookings -19% to $1.1B.

Sales breakdown: underground mining equipment -16% to $696.3M; surface mining equipment -36% to $536M.

Guidance: FY 2014 EPS $3-3.50, below consensus of 3.68; revenues $3.6-3.8B vs $3.8B.

To carry out further restructuring actions in 2014, which will cost $15M.

Shares -2.7%. (Previous) (PR)