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Friday, July 22, 2011

Caterpillar report sales and revenues Second-quarter 2011

Caterpillar report sales and revenues Second-quarter 2011 ; Second-quarter earnings by Caterpillar Inc. were 37 percent higher than last year, the company reported Second-quarter sales and revenues of $14.2 billion were an all-time record, topping last year’s second-quarter total of $10.4 million.

Profit per share was $1.52 in the second quarter of 2011, or $1.72 per share excluding acquisition costs incurred with the recent purchase of Bucyrus, the Milwaukee-based mining firm.

Caterpillar also announced it was raising its 2011 outlook for both sales and revenues and profit — excluding the Bucyrus acquisition. The 2011 sales and revenues outlook is now expected to be in the range of $54 to $56 billion, up from a range of $52 to $54 billion.

Bucyrus is expected to add $2 billion in sales in 2011, reported Caterpillar.

Machinery sales increased more than 30 percent while manufacturing costs increased less than 4 percent, the company noted.

Caterpillar worldwide full-time employment was 108,175 at the end of the second quarter of 2011 compared with 97,487 at the end of the second quarter of 2010, an increase of 10,688 full-time employees.
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