Mining equipment manufacturer Bucyrus International Inc. continues to grow its profits, despite the recession. The South Milwaukee-based company reported second quarter net earnings of $82.3 million, or $1.08 diluted net earnings per share, up 32 percent compared to second quarter 2008 net earnings of $62.3 million, or 83 cents diluted earnings per share.
For the first six months of the year Bucyrus had net earnings of $139.2 million, or $1.84 diluted net earnings per share, up 34.6 percent compared to the first half of 2008 when it had net earnings of $103.4 million, or $1.37 diluted net earnings per share.
The Bucyrus board of directors also declared a quarterly dividend of 2.5 cents per share of the company’s common stock.
Bucyrus also recently announced that Deepak T. Kapur has been elected as a new member of its Board of Directors. His term will expire in 2010. Kapur is president of Warrenville, Ill.-based Navistar Inc.’s Truck Group, the nation’s largest combined commercial truck, school bus and mid-range diesel engine manufacturer.
