Caterpillar (CAT) Sails To Distant Shores

Posted: July 22, 2008 at 6:52 am

CatCaterpillar (CAT) said second-quarter net income rose 34% to $1.1 billion, or $1.74 a share, from $823 million, or $1.24 a share in the year-ago period, on strength in its overseas business.

Revenue improved 20% to $13.6 billion from $11.4 billion.

"While North America remains depressed and we’ve seen softening in Western Europe and Japan, Caterpillar continues to grow in emerging markets and in global industries like energy and mining … and we continue to see good growth in our integrated service businesses," Chairman and CEO Jim Owens said.

Douglas A. McIntyre

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