Caterpillar Inc. has announced record 2012 sales and revenues of
$65.8 billion, an increase of 10 percent from $60.1 billion in 2011. Profit
per share of $8.48 was also an all-time record.
The 2012 profit per share of $8.48 was up 15 percent from $7.40 in 2011.
Profit was $5.6 billion, an increase of 15 percent from $4.9 billion in 2011.
Fourth-quarter 2012 sales and revenues were $16.1 billion, down $1.1
billion from $17.2 billion in the fourth quarter of 2011. Fourth-quarter 2012
profit was $697 million compared with $1.5 billion in the fourth quarter of
2011. Profit was $1.04 per share in the fourth quarter of 2012 compared with
profit per share of $2.32 in the fourth quarter of 2011.
The company stated that its fourth-quarter profit was negatively impacted
by a charge of $580 million, or $0.87 per share, to cover an accounting error
for a Chinese firm acquired by Caterpillar last year.
Lower sales and revenues and the cost impact from sharply lower
production and the $2 billion decline in Caterpillar inventory also had a
negative impact on fourth-quarter profit, the company stated in its release
Monday.
"From an operational standpoint, 2012 was a very successful year with
record sales and profit in a tough economic climate," said Caterpillar
chairman and CEO Doug Oberhelman in the release.
"Considering the weak economy in the United States, along with much of
Europe in recession and China slowing, we had a solid year," he said.
