Caterpillar earnings down 16-percent for 2013

By WEEK Producer

January 27, 2014 Updated Jan 27, 2014 at 11:14 PM CDT

PEORIA, Ill. -- Caterpillar officials announced the company's 2013 yearly and 4th quarter earnings early Monday morning.

Sales and revenues for the fourth quarter were $14.4 billion, down 10-percent from the same time period in 2012.

Profit per share was $1.54, compared to $1.04 in the fourth quarter of 2012.

Yearly sales and revenues 2013 were $55.6 billion. That is down about 16-percent from 2012.

While the mining industry world-wide continues in a slump, the construction industry has seen an increase in sales. That partially off-set problems with mining.

Still, the company predicts 2014 will not see great increases in sales.

"We're calling for sales and revenues to be about flat with 2013 and could be up 5-percent or down 5-percent, but the midpoint would be sales and revenues flat in 2014," said Caterpillar Spokesperson Jim Dugan.

Caterpillar stock rose on Monday's quarterly report to $91.29, a nearly 6-percent price increase.