Quoted from Patersons Securities site:Boart Longyear Limited...

Quoted from Patersons Securities site:

Boart Longyear Limited (BLY) - BUY

Event - Strong Q1 results from Atlas Copco and Sandvik

BLY competitors Atlas Copco and Sandvik have reported interim earnings reports.
Atlas Copco's Mining and Rock Excavation division recorded a 29% increase in Revenue over the three months to 31 March; Operating profit was 35% higher while margins increased 100bps to 24.6%. Orders received during the period increased 24%. At a group level record order intakes were achieved in North & South America and Australia.
Atlas Copco (ATCOA.SS) closed up 0.92% in Stockholm on Friday.
Sandvik's Mining division reported a 40% increased in order intake to a record level. Invoiced sales were 19% higher and Operating profit rose 23.7%. The division reported a strong increase in most regions and was boosted by a number of large orders for mining systems for South America and Australia and for equipment for Europe and Asia. The rate of price increase was also consistently positive.
At a group level Sandvik's net income grew 18% on the pcp to 2.5bn Kronor - consensus estimates averaged 1.94bn Kronor. Sandvik (SAND.SS) finished up 12.5% in Stockholm on Friday (the company's highest intra-day gain since November 2008).
Impact - Positive implications for BLY interim earnings

The strong results follow a similar performance reported from Caterpillar last week and carry positive implications for BLY's products division (37% of 2011 group EBITDA).
We are anticipating a 12.5% increase in annual sales from BLY's Products division (to US$644.0m).