Cat unearths record revenues
Caterpillar Inc. reported a 44 percent quarterly earnings increase and record revenues today, Reuters said. The Peoria, Ill., company said it expects
its full-year 2011 profit and revenues to be at the top end of its previous outlook range due to strong demand. In 2012, the company expects revenues to increase 10 percent to 20 percent above the $58 billion in sales it expects this year. Reuters said. The world’s largest heavy machinery manufacturer reported third-quarter net income attributable to common shareholders of $1.14 billion, or $1.71 per share, compared with $792 million, or $1.22 per share, a year earlier. Analysts on average had expected Caterpillar to earn $1.54 per share in the third quarter.