A decline in underground mining equipment sales helped drive Bucyrus International’s first-quarter earnings down 38 percent, South Milwaukee’s largest employer reported on Thursday.
Click here to see a Journal Sentinel story. From the story …
The South Milwaukee company said it earned $35 million, or 45 cents a share, down from $56.9 million, or 76 cents, a year ago. Revenue rose 0.3% to $607.5 million from $605.7 million.
The company had a 16% increase in its surface mining equipment sales, which included $35.4 million in revenue from a company acquired in February. Sales of underground mining equipment were down 46% from a year ago, to $97.8 million, as the 2009 results included a large sale in the Czech Republic.
Bucyrus also announced Thursday it was raising its dividend.
Click here to access the press release at Bucyrus.com.
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