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4Q 2011 Earnings Release
January 26, 2012
FOR IMMEDIATE RELEASE
Caterpillar Reports Record Sales and Profit for the Fourth Quarter and Full-Year 2011;
2011 Profit up 83 Percent from 2010
Momentum Carries into 2012 with Sales and Revenues Outlook Raised to $68 to $72 Billion
PEORIA, Ill. Driven by outstanding execution and stronger global demand, Caterpillar Inc. (NYSE: CAT) delivered record-breaking 2011 sales and revenues of $60.138 billion, an increase of 41 percent from $42.588 billion in 2010. Profit in 2011 was $4.928 billion, an increase of 83 percent from $2.700 billion in 2010. Profit per share of $7.40 was up 78 percent from $4.15 in 2010. Excluding the impact of the acquisition of Bucyrus International, Inc. (Bucyrus), 2011 profit was $7.79 per share, up 88 percent from a year ago.
Fourth-quarter sales and revenues in 2011 were an all-time quarterly record at $17.243 billion, an increase of 35 percent compared with $12.807 billion in the fourth quarter of 2010. 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 percent higher than the $1.47 per share in the fourth quarter of 2010.
Our strategy is squarely focused on customers, and in 2011 our employees, suppliers and dealers delivered. We improved product quality, invested significantly in manufacturing capacity and product development, and improved our market position. We completed two large acquisitionsBucyrus and Motoren-Werke Mannheim Holding GmbH (MWM)in important growth industries that are a great strategic fit and provide our customers an even broader range of products, said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.
We also delivered for stockholders with outstanding financial results, beating our previous 2008 profit record of $5.66 per share by more than 30 percent. It was a great year for cash generation as well with our Machinery and Power Systems (M&PS) operating cash flow near $8 billionour best year ever, Oberhelman added.
The following information was filed by Caterpillar Inc (CAT) on Thursday, January 26, 2012 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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