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| Caterpillar 3Q profit up 96 percent Caterpillar Inc., the world's largest maker of construction equipment, reported a third-quarter profit of $792 million, 96 percent higher than the third-quarter 2009 profit of $404 million. Profit per share was $1.22, an increase from $0.64 per share in the third quarter of 2009. Sales and revenues of $11.134 billion were up 53 percent from $7.298 billion in the third quarter of 2009. Sales and revenues were up $3.836 billion from the third quarter of 2009. Sales volume improved $3.714 billion, price realization was favorable $262 million, and currency had an unfavorable impact of $107 million. Financial Products revenues were down $33 million from the third quarter of 2009. Profit was up $388 million, with the increase primarily the result of higher sales volume, favorable price realization and improved manufacturing costs driven by the Caterpillar Production System, partially offset by higher taxes, incentive compensation and higher research and development expenses. The outlook for 2010 sales and revenues is a range of $41 to $42 billion, an increase of 28 percent from 2009 at the midpoint of the range. The previous outlook range was $39 to $42 billion. The 2010 profit outlook is a range of $3.80 to $4.00 per share, an increase of 173 percent from 2009 at the midpoint of the range. The previous outlook range was $3.15 to $3.85 per share. 2010 is shaping up to be one of the most significant yearover-year increases in sales and revenues in company's history. write your comments about the article :: © 2010 Construction News :: home page |