| Joy Global 4th-quarter net income climbs and Stein Mart receives notice from Nasdaq |
| News - Financial News |
|
MILWAUKEE (AP) -- Mining equipment maker Joy Global Inc.'s fiscal fourth-quarter net income climbed 18 percent, helped by a recent acquisition and higher bookings as customers increased production. But the Milwaukee company cautioned on Wednesday that production in the near future may increase at a "more tempered pace" as demand for commodities weakens. Uncertainty about the health of the global economy, and demand for the raw materials that power it, may cause customers to scale back on orders, the company said. Joy Global forecast 2012 earnings of $7 to $7.40 per share on revenue of $5.3 billion to $5.5 billion. Analysts polled by FactSet predict earnings of $7.18 per share on revenue of $5.4 billion. In the August-October quarter, Joy Global posted net income of $172.3 million, or $1.61 per share. [Read the full article] Pentair previously projected a profit of 59 to 62 cents per share for the quarter. Analysts, on average, expect a fourth-quarter profit of 59 cents per share, according to a FactSet poll. Pentair said it cut the profit prediction to reflect lower than expected western European sales, along with lower than expected sales volumes of residential water treatment components. The company said it plans to take additional restructuring actions not already reflected in the outlook. For the full year 2011, the company expects a profit of between $2.20 and $2.22 per share. [Read the full article] Navistar International Corp will unveil its latest earnings on Monday, December 19, 2011. Navistar International produces International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse brand chassis.Wall St. Earnings Expectations: The average estimate of analysts is for profit of $3.20 per share, a rise of more than fourfold from the company(TM)s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $3.10. Between one and three months ago, the average estimate moved up. It has been unchanged at $3.20 during the last month. Analysts are projecting profit to rise by 66.1% versus last year to $5.10.Past Earnings Performance: For the past three quarters, the company(TM)s quarterly results have come in below analyst(TM)s expectations. [Read the full article] 
|