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First-Quarter Sales and Revenues Increase 23 Percent, Profit PerShare Up 29 Percent Growth in mining, strong replacement demand for products in theUnited States and a continued focus on cost management helpedCaterpillar Inc. (NYSE: CAT) deliver record quarterly profit pershare of $2.37 in the first quarter of 2012. This represents anincrease of 29 percent from first-quarter 2011 profit per share of$1.84. First-quarter 2012 sales and revenues of $15.981 billionwere up 23 percent from $12.949 billion in the first quarter of2011. Profit was a record $1.586 billion in the quarter, anincrease of 29 percent from $1.225 billion in the first quarter of2011. "These outstanding results demonstrate our continued focus onexecution and controlling costs as we increase production andexpand capacity to meet increasing demand from our customers. We"re seeing strong global demand for most mining productsand significant growth in replacement demand for products in theUnited States, which more than offset slowing in China andBrazil," said Caterpillar Chairman and Chief ExecutiveOfficer Doug Oberhelman. "During the quarter, I visitedCaterpillar facilities, customers, suppliers and dealers around theworld, and saw firsthand the progress we are making on safety,product quality, improved delivery times, factory efficiencies andcustomer service. These improvements have been impressiveconsidering they"ve occurred while we have so much goingon—we are building new facilities, expanding existingfacilities, integrating acquisitions and continuing theintroduction of new products," Oberhelman added. "Our growth has also been good for jobs—increasingdemand coupled with our acquisitions has led to a nearly 50-percentincrease in our global workforce since the start of 2010, to atotal of 155,710 people. Even without acquisitions, in the lastyear alone, our workforce in the United States has grown by morethan 6,500 people while our workforce is up about 7,200 outside ofthe United States," Oberhelman said. Outlook Caterpillar has increased the profit outlook for 2012 whilemaintaining the sales and revenues outlook in the range of $68 to$72 billion. While the overall outlook range for sales andrevenues has not changed, better growth than initially expected inNorth America is now expected to about offset slowing sales andrevenues in China and Brazil. The outlook for profit per share isnow expected to be about $9.50 at the middle of the sales andrevenues outlook range. The previous profit per share outlook wasabout $9.25 at the middle of the sales and revenues outlook range. "We remain on track for another record-breaking year in 2012at a time when U.S. construction activity remains depressed andeconomies in Europe, China and Brazil have slowed. While ouroutlook reflects a record year, we are highly focused on preparingfor additional growth over the next few years. Although it"stough to predict the exact timing, we expect positive economicgrowth moving forward. China and Brazil took steps in 2011 to slowtheir economies and bring inflation under control. Both countrieshave realized inflation levels in their targeted range and havebegun to move to more accommodative economic policies that shouldsupport improved growth later this year. Improvement in thoseeconomies, better growth in Europe in the coming years and our viewthat the United States will continue to improve is why we are sofocused on improving factory efficiency and putting additionalcapacity in place. We have a record order backlog today, and weneed to be ready for continued growth," Oberhelman said. Global Workforce Caterpillar worldwide full-time employment was 127,238 at the endof the first quarter of 2012 compared with 105,394 at the end ofthe first quarter of 2011, an increase of 21,844 full-timeemployees. In addition, the flexible workforce increased by 5,643for a total increase in the global workforce of 27,487. The increase was a result of additions to support higher salesvolume and acquisitions, primarily Bucyrus and MWM, which added13,687 people to the global workforce. For more than 85 years, Caterpillar Inc. has been makingsustainable progress possible and driving positive change on everycontinent. With 2011 sales and revenues of $60.138 billion,Caterpillar is the world"s leading manufacturer ofconstruction and mining equipment, diesel and natural gas engines,industrial gas turbines and diesel-electric locomotives. Thecompany also is a leading services provider through CaterpillarFinancial Services, Caterpillar Remanufacturing Services,Caterpillar Logistics Services and Progress Rail Services. Last Updated ( Wednesday, 25 April 2012 ). I am an expert from best-laser.com, while we provides the quality product, such as Long Pulse ND YAG Laser , China RF Beauty Equipment, IPL Beauty Equipment,and more.
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