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Earnings Analysis: 
Joy Global Quarterly Profit Rises 52%
Author: 123jump.com Staff
123jump.com
Last Update: 2:57 PM EST December 18 2006



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Mikron''s fourth-quarter earnings were higher than the same quarter of fiscal year 2005 due primarily to a more favorable product mix and higher sales volume. Steelcase third-quarter earnings more than doubled, due mostly to gains in international markets. Joy Global fourth-quarter earnings increased 52%, as demand overseas for company’s underground equipment offset weakness in the U.S. coal market.

 
Joy Global Inc. (JOYG: chart), mining equipment maker, reported fourth-quarter earnings of $85.2 million, or 71 cents per share, up from $56.3 million, or 45 cents per share, a year earlier. The results include tax adjustments that reduced earnings by 8 cents per share. Revenue climbed 21% to $698.3 million from last year''s $568.2 million, with strength in underground original equipment shipments.

Steelcase Inc. (SCS: chart), office furniture maker, said that its third-quarter net income more than doubled to $32.8 million, or 22 cents per share, compared with $19.1 million, or 13 cents per share in the year-ago period. Revenue jumped 6.8% to $802 million versus $750.7 million in the year-ago period, driven by better-than-expected operating and non-operating performance.

Mikron Infrared Inc. (MIKR: chart), temperature measurement devices maker, said that its fourth-quarter net earnings increased to $882,521, or 16 cents per share, compared with $749,751, or 13 cents per share, in the year-ago period. Revenue jumped to $8.88 million from $8 million in the year-ago period.

John B. Sanfilippo & Son Inc. (JBSS: chart), engages in the processing and marketing of tree nuts and peanuts, said that its first-quarter net loss widened to $4.82 million, or 46 cents per share, compared with $1.13 million, or 11 cents per share, in the year-ago period. Revenue declined 3.5% to $133.8 million from $138.7 million a year earlier. As a result of the Elk Grove Village restatement, the net loss increased $2.3 million to $16.7 million.

Piedmont Natural Gas Co. (PNY: chart), natural gas distributor, reported a fourth-quarter net loss of $6.16 million, or 8 cents per share, compared with a net loss of $4.67 million, or 6 cents per share, in the year-ago period. Revenue declined 17% to $282.2 million from $339.6 million in the same period last year.

Optical Communication Products Inc. (OCPI: chart), fiber optic communications products maker, reported a fourth-quarter net loss of $1.4 million, or a penny per share compared with a net profit of $1.57 million, or a penny per share in the year-ago quarter. Revenue climbed to $19.1 million from $14.8 million a year earlier.

Star Gas Partners (SGU: chart), home heating oil distributor, said its fiscal fourth-quarter net loss narrowed to $21.6 million, or 28 cents per limited partner unit, versus $46.5 million, or $1.30 cents per unit. Revenue climbed 0.5% to $151.5 million from $150.7 million a year earlier as the impact of higher selling prices more than offset an 11.9% reduction in home heating oil volume.
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