Joy Global Inc. (JOY) reported that its second-quarter net income attributable to company decreased to $181.56 million or $1.69 per share from $213.59 million or $2.00 per share last year.
Profit per share from continuing operations totaled $1.69 compared to $2.04 in the second quarter of prior year. Excluding unusual items, profit per share from continuing operations in the current quarter totaled $1.73 compared to $2.23 in the prior year quarter.
On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.56 for the quarter. Analysts' estimates typically exclude special items.
Net sales decreased to $1.36 billion from $1.54 billion last year. Analysts expected revenue of $1.28 billion for the quarter.
Joy Global now expects its fiscal 2013 revenues to be between $4.9 billion and $5.0 billion, down from its previous guidance of $4.9 billion to $5.2 billion. Reported earnings per share are expected to be between $5.60 and $5.80, down from the company's previous guidance of $5.75 to $6.35. Excluding restructuring charges, the company expects earnings per share to be between $5.75 and $5.95. Analysts expect the company to report fiscal 2013 profit per share of $6.15 on revenue of $5.06 billion.
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