Joy Global trims 2008 profit target on acquisition costs

NEW YORK (MarketWatch) — Joy Global Inc. on Tuesday lowered its 2008 earnings target to $2.96 to $3.22 a share from its earlier view of $3.15 to $3.45 a share, but kept its revenue target unchanged at $3.1 billion to $3.3 billion. The Milwaukee-based owner of P&H Mining Equipment and Joy Mining Machinery said it now expects higher purchase accounting charges for its acquisition of Continental Global Inc. and costs for the early termination of a maintenance and repair contract.
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