Caterpillar reports record sales and profits for the fourth quarter and full-year of 2011

Caterpillar, Inc., the Peoria, Ill.-based manufacturer of construction and mining-equipment, delivered record-breaking 2011 sales and revenues of $60.138 billion, an increase of 41% from $42.588 billion in 2010. Profit in 2011 was $4,928 billion, an increase of 83% from $2.700 billion in 2010. Profit per share of $7.40 was up 78% from $4.15 in 2010.

Fourth-quarter sales and revenues in 2011 were an all-time quarterly record at $17.243 billion, an increase of 35% compared with $12.807 billion in the fourth quarter the year earlier. Fourth-quarter profit was $1.547 billion compared with $968 million in the fourth quarter of 2010. Profit of $2.32 per share was 58% higher than the $1.47 per share in the fourth quarter of 2010.

Caterpillar also completed two acquisitions, Bucyrus International and Motoren-Werke Mannheim Holding GmbH, in 2011.

“The 2011 increase in sales and revenues was the largest percentage increase in any year since 1947, and much of it was driven by demand for Caterpillar products and services outside of the United States,” said Doug Oberhelman, Caterpillar Chairman and Chief Executive Officer. “Not including acquisitions, our global workforce grew by more than 14,000 in 2011, and since the start of 2010, we have increased our workforce by more than 33,000 with more than 14,000 of those jobs in the United States.”

 

-Bill O’Leary

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