Caterpillar's record-breaking year
First publishedon www.WorldHighways.com
Caterpillar delivered record-breaking sales and revenues of US$60.1 billion in 2011, an increase of 41% from $42.6 billion in 2010, with profit at $4.9 billion, an increase of 83% ffrom $2.7 billion in 2010.
Fourth-quarter sales and revenues in 2011 were an all-time quarterly record at $17.2 billion, an increase of 35% compared with $12.8 billion in the fourth quarter of 2010. Fourth-quarter profit was $1.5 billion compared with $968 million in the fourth quarter of 2010.
Doug Oberhelman, Caterpillar chairman and CEO, said: "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 also completed two large acquisitions, Bucyrus and Motoren-Werke Mannheim Holding (MWM), in important growth industries that are a great strategic fit and provide our customers an even broader range of products."
According to Caterpillar, the 2011 increase in sales and revenues was the largest percentage increase in any year since 1947, much of it driven by demand for the company’s products and services from outside the US.
Oberhelman added that the outlook for 2012 sales and revenues had increased and was now expected to be in the range of $68-72 billion, including full-year results for the Bucyrus and MWM acquisitions.