Boart Longyear Lowers 2012 Forecast

Boart Longyear Ltd

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.