Vistaprint Reports Second Quarter Revenue Growth of 21%
$MKC Earnings Call
CAT: Nice move; 60% increase in 4Q profit
Comments »PEORIA, Ill. (AP) — Caterpillar Inc. said Thursday that its fourth-quarter profit jumped 60 percent, boosted by pent-up demand for new equipment and continuing economic growth in developing countries.
The performance of the world’s largest maker of construction and mining equipment is an indicator of the strength of the global economy. Along with strong fourth-quarter earnings, Caterpillar issued rosy guidance, saying that it expects the global economy to grow faster this year and construction activity to continue to improve in most parts of the world.
Caterpillar, based in Peoria, Ill., reported net income of $1.55 billion, or $2.32 per share, up from $968 million, or $1.47 per share, in the same quarter last year.
Sales and revenue jumped 24 percent to $17.24 billion from $12.81 billion, as sales volumes increased at all three of the company’s major businesses. Revenue from Bucyrus International Inc., which the Caterpillar acquired in July, totaled $1.39 billion.
