Casc, Joyg, And Nuec Stock Report Update From Pennytobuck.com
NuEarth Corporation(Pink Sheets:NUEC) a manufacturer and marketer of Clean & Green
products and technology, reported that NUECs Laboratory and Research Division TerraSolv SA has renegotiated and finalized its Joint Venture Agreement with Laboratorio Internazionale Agricoltura, S/p/A (LIA) of Italy.
The Finalizing of the Joint Venture Continuation Agreement brings 2 new laboratory projects to TerraSolv. These projects are valued currently valued at more than $1.5 Million over the three-month work schedule starting in October 2010. However, each contact has provisions that could triple the final contact value to more than $6 Million USD over their 12 month life cycle.
The TerraSolv SA Laboratory has generated more than $32 Million over its 3 year existence Mostly due to the Joint Venture with Laboratorio Internazionale Agricoltura, S/p/A.
Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions, recently reported third quarter fiscal year 2010 results. New orders increased 51 percent as compared to the third quarter of 2009. Net sales for the quarter were $850 million compared to $956 million in the third quarter of last year. Operating income was $172 million, or 20 percent of net sales, in the current quarter versus $195 million, or 20 percent of net sales, in the prior year. Net income in the current quarter was $119 million, or $1.13 per fully diluted share, compared to $124 million, or $1.21 per fully diluted share, in the prior year third quarter.
Third Quarter Operating Results
New orders in the third quarter of $973 million were 51 percent higher than orders of $644 million received in the third quarter of 2009. Current quarter original equipment orders more than doubled, while aftermarket orders increased 20 percent over the prior year third quarter.
JOYG believes they are well positioned to have a strong finish to this year, and our cost control and process efficiency efforts are continuing to gain momentum. Our fourth quarter shipments are in production, and we now expect to end our fiscal 2010 with revenues between $3.35 and $3.4 billion, which narrows the guidance to the upper end of the prior range of $3.3 to $3.4 billion. We expect profitability on those revenues to be better than previously guided, and now expect our earnings per fully diluted share for fiscal 2010 to be between $4.10 and $4.15, up from our prior guidance of $3.85 to $4.00.
About Joy Global Inc.
Joy Global Inc. is a worldwide leader in manufacturing, servicing and distributing equipment for surface mining through P&H Mining Equipment and underground mining through Joy Mining Machinery.
Cascade Corporation (NYSE:CASC) recently reported its financial results for the second quarter ended July 31, 2010.
Overview
Net sales of $97.7 million for the second quarter of fiscal 2011 were 28% higher than net sales of $76.6 million for the second quarter of fiscal 2010, excluding the impact of changes in foreign currency exchange rates.
Pre-tax income was $9.7 million for the quarter as compared to a pre-tax loss of $11.1 million in the prior year.
Our net income for the second quarter of fiscal 2011 was $3.2 million ($0.29 per diluted share) compared to a net loss of $12.3 million ($1.14 loss per diluted share) for the second quarter of fiscal 2010. The current year includes $3.4 million ($0.31 per diluted share) of income tax expense related to noncash reserves recorded in Italy and England. The prior year includes $11.6 million of European restructuring costs.
Market Conditions
Percentage changes in lift truck industry shipments and orders, by region, as compared to the prior year are outlined below. Although lift truck unit data provides an indicator of the general health of the industry and our business over a six to twelve month period, they do not necessarily correlate directly with the demand for our products on a quarterly basis.
About Cascade Corporation:
Cascade Corporation, headquartered in Fairview, Oregon, is a leading international manufacturer of materials handling products used primarily on lift trucks. Additional information on Cascade is available on its website, www.cascorp.com.
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by: Bill Pennyman
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