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While the global financial crisis could still roll along for some time yet, the prospect of improving credit conditions could help lift Joy鈥檚 expectations.
From its latest quarterly results released last month, Joy was anticipating further reductions in new equipment orders this year and booking rates for original equipment to remain 鈥渟ubstantially鈥� below last year鈥檚 levels.
Joy kept its 2009 revenue guidance of $US3.5-3.7 billion and reaffirmed it would fulfil commitments to customers and investors for this year.
However, the supplier also said at the time it would reduce the scale and scope of business to be appropriate for the range of market conditions that could exist in fiscal 2010.
In February Bucyrus said it was yet to feel the effects of the economic downturn and was expecting strong equipment bookings this year due to the luxury of long lead times and a strong backlog of orders.
Bucyrus chief executive officer Tim Sullivan said the company had moved some new sales, including longwall equipment, into 2010 in an attempt to protect itself from any softening demand for its equipment.
He forecast revenues of $2.5 billion for 2009 鈥� in line with those achieved in 2008.
