Caterpillar Sees Increase in Second Quarters Sales

By WEEK Reporter

Caterpillar Sees Increase in Second Quarters Sales

August 11, 2011 Updated Aug 11, 2011 at 1:19 PM CDT

Caterpillar says it contributes new positive financial numbers to increased demand worldwide.

Friday, Caterpillar, Inc. released second-quarter sales and revenue figures, which showed a 37 percent increase from 2010.

Profit was $1.015 billion, up 44 percent from last year's second-quarter numbers.

Profits per share were up 39 percent at $1.52.

"Customer demand around the world continues to improve, and our sales and revenues reached an all-time record in the second-quarter," said Chairman and CEO Doug Oberhelman.

Oberhelman says the company is now focusing on four strategies, including enacting the Cat business model to improve value, increasing production levels, cost focus, and integrating value into the new acquisition of Bucyrus.

The company says it is raising expectations for the next year, expecting sales to reach well into the $54-$56 billion range.

"The scale of investment in our existing businesses coupled with our recent acquisitions put us in a unique position for growth and leadership as we drive forward to meet our 2015 goals," said Oberhelman.