High Profit Reports from Caterpillar

High Profit Reports from Caterpillar

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The maker of world’s most expensive and highly sophisticated heavy equipment which is Caterpillar has released high profits for its first quarter of the year’s operations. A report shows an almost five fold increase on their earnings. By midday on Friday Caterpillar hits Dow and the shares were up by 2.4 percent or to $115.36. The company’s stock has been bellwether because of the company’s products. For many years following the recession companies has been holding back on huge expenses. But the inevitable comes they do need to replace old machineries to keep their operations going.  Or they could be acquiring new vehicles to add to their working fleets.

Based on this early outcome Caterpillar has projected revenues for 2011 to be between $52 and $54 billion. Its share will have a net income of $6.25 and $6.75. Furthermore the company cleared that this projections did not include new acquisitions and it could have been much higher if their Japan factory were not destroyed by the earthquake-tsunami.

 

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