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Mining equipment maker Joy Global’s revenue falls 4 pct

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Mining equipment maker Joy Global’s revenue falls 4 pct
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Mining equipment maker Joy Global Inc , which gets more than 60 percent of its revenue from coal miners, reported a 4 percent fall in quarterly revenue as customers cut production.

Net income rose to $136.9 million, or $1.38 per share, in the fourth quarter ended Oct. 31, from $26.8 million, or 25 cents per share, a year earlier.

The year-earlier quarter included a non-cash charge of $155.2 million.

Revenue fell to $1.13 billion from $1.18 billion.

Reuters

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