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| Caterpillar reports record 1Q sales and profit Heavy machinery maker Caterpillar Inc. reported record first-quarter profit per share of $1.45, an 18 percent increase from $1.23 per share in the first quarter of 2007. Sales and revenues of $11.796 billion were also a first-quarter record and 18 percent higher than 2007 first-quarter sales and revenues of $10.016 billion. Sales and revenues were up $1.780 billion from the first quarter of 2007. Sales volume improved $1.087 billion, the impact of currency added $310 million, price realization was up $261 million and Financial Products revenues were $122 million higher. The geographic mix of sales continued to shift with sales and revenues increasing 30 percent outside North America and 4 percent inside North America. Sales and revenues outside North America represented 58 percent of total sales and revenues in the first quarter—up from 53 percent of the total a year ago. Profit of $922 million was up $106 million, or 13 percent, from $816 million in the first quarter 2007. The improvement was a result of better price realization and higher sales volume, partially offset by higher costs. Profit per share of $1.45 was up $0.22 from $1.23 per share in the first quarter of 2007. The company continues to expect another record year with sales and revenues increasing 5 to 10 percent and profit per share increasing 5 to 15 percent from 2007 despite further weakening in North America. write your comments about the article :: © 2008 Construction News :: home page |