Joy Global Inc. Earnings Drop 60% In Q4

(RTTNews) - Joy Global Inc. (JOY) revealed a profit for fourth quarter that lost ground compared to the same period last year.

The company said its profit dropped to $16.6 million, or $0.17 per share. This was lower than $41.7 million, or $0.43 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.17 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 24.1% to $656.56 million. This was down from $865.57 million last year.

Joy Global Inc. earnings at a glance:

-Earnings (Q4): $16.6 Mln. vs. $41.7 Mln. last year. -Earnings Decline (Y-o-Y): -60.2% -EPS (Q4): $0.17 vs. $0.43 last year. -EPS Decline (Y-o-Y): -60.5% -Analysts Estimate: $0.17 -Revenue (Q4): $656.56 Mln vs. $865.57 Mln last year. -Revenue Change (Y-o-Y): -24.1%