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4Q 2010 Earnings Release
January 27, 2011
FOR IMMEDIATE RELEASE
Fourth-Quarter Sales and Revenues Increase 62 Percent, Full Year up 31 Percent
Fourth-Quarter Profit Quadruples, Full Year Triples
2011 Outlook Reflects Record Profit
PEORIA, Ill. Caterpillar Inc. (NYSE: CAT) today announced sales and revenues of $42.588 billion for 2010, an increase of 31 percent from $32.396 billion in 2009. Profit in 2010 was $2.700 billion, an increase of 202 percent from 2009 profit of $895 million. Profit per share of $4.15 was up from $1.43 in 2009. Excluding redundancy costs, profit per share in 2009 was $2.18.
Fourth-quarter sales and revenues were $12.807 billion, an increase of 62 percent compared with $7.898 billion in the fourth quarter of 2009. Fourth-quarter profit of $968 million was 317 percent higher than profit of $232 million in the fourth quarter of 2009. Profit per share of $1.47 was up from $0.36 per share in the fourth quarter of 2009. Excluding redundancy costs, profit for the fourth quarter of 2009 was $0.41 per share.
As the global economy continued to improve, the demand for Caterpillar products increased substantially with fourth-quarter sales and revenues up 62 percent. 2010 was a good year, and we accomplished a great deal. We substantially ramped up production, improved factory efficiency, drove Machinery and Engines (M&E) operating cash flow to an all-time record, launched a number of capacity additions and new product programs to prepare us for the future and announced several substantial acquisitions, said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.
It was also a good year for employees, customers and stockholders. Excluding acquisitions, our workforce grew by approximately 19,000 people in 2010. Led by U.S. exports of $13.4 billion, about 7,500 of the 19,000 were added in the United States, representing a 15-percent increase in our U.S. workforce. We renewed our focus on customers with continued improvement in product quality and significantly increased production. For
The following information was filed by Caterpillar Inc (CAT) on Thursday, January 27, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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