Bucyrus strong on Czech order

BUCKING recent trends, original equipment manufacturer Bucyrus managed to increase its underground equipment sales for the March quarter, largely thanks to a massive sale into the Czech Republic of five new longwall systems.
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Bucyrus roof supports.

Angie Tomlinson

Underground mining sales for the quarter were $US294 million, contributing towards total sales for the period of $605.7 million. Net earnings were $56.9 million.

Besides the increase in mining sales, the segment also saw increased aftermarket parts and service sales primarily in the US.

New orders received by the underground segment in the March quarter totalled $98 million, while new orders in aftermarket parts and service sales were $104.8 million.

Underground sales were hurt to the tune of $20.6 million due to the effect of the stronger US dollar on foreign sales.

Operating earnings for the underground segment were also hit with the $4.1 million amortisation of purchase accounting adjustments related to the acquisition of DBT.

Capital expenditures for the first quarter were $11.2 million, including $4.1 million spent on expansion and renovations at the company’s South Milwaukee facilities.

Bucyrus expects its total 2009 expenditures to be $60-70 million.

The order backlog as of March 31 this year was $1.04 billion and is $876 million for the next 12 months.

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