June 2008 -- Mining equipment manufacturer Bucyrus International Inc. nearly doubled its profit in 2007 and
revenue increased 118% as the company benefited from increasing demand in the mining industry.
Gross profit for the fourth quarter was $136.3 million, or 25% of sales, compared with $51.1
million, or 24.8% of sales, during the year-ago period. The increases in gross profit were
primarily from its 2006 acquisition of German mining equipment manufacturer DBT GmbH, which
makes mining shovels, blast-hole drills and other products related to the surface mining
industry.
New orders related to surface mining in 2007 were $353.4 million and $483.7 million for original
equipment and aftermarket parts and service sales. New orders for underground mining equipment
in the fourth quarter were $634.2 million and $247.8 million for original equipment and
aftermarket parts and service sales.
The high level of underground mining original equipment orders was the result of a large order
from a mining company that is upgrading their equipment to enable higher production capacity.
