Joy Global (JOYG) released stronger-than-expected fourth-quarter 2009 results. The company reported EPS of $0.73 per share, topping the Zacks Consensus Estimate of $0.64.

In the last five quarters, Joy Global has beaten consensus estimates by an average of 19.4%.

While revenues declined 3% year-over-year to $729 million, new order bookings improved 22%, largely driven by a 303% increase in original equipment orders.

Management reiterated its fiscal 2011 revenue guidance of $2.8 billion to $3.0 billion, but increased its EPS guidance range by 20 cents to $2.85-$3.05.

Zacks Investment Research

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