Boart Longyear Lowers 2012 Forecast
Boart Longyear Ltd (OTC: BLGPY) lowered its earnings forecast for the full year.
Boart Longyear lowered its 2102 forecast for earnings before interest, tax, depreciation and amortization (EBITDA) to US$360 million to US$390 million, versus its earlier forecast of US$460 million.
It also cut its capital expenditure budget by 8% to US$275 million.
Boart Longyear declared an interim dividend of 6.4 U.S. cents. Its net profit for the six months ended June 30 surged 31.9% y/y to US$97.7 million.
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