PEORIA, Ill. – Caterpillar Inc.’s North American marine-engine sales increased 19 percent for the third quarter ended Sept. 30 – as compared to the third quarter of 2003 – due to continued demand for pleasure craft engines, the company said in a press release yesterday.
Caterpillar’s overall engines sales were $2.48 billion, an increase of $614 million or 33 percent from third quarter 2003. Sales volume was up about 29 percent.
The company reported record sales and revenues of $7.65 billion for the third quarter and record third-quarter profit of $498 million, or $1.41 per share.
Caterpillar said its results for the nine months ended Sept. 30 were the best in company history with sales and revenues of $21.68 billion and profit of $1.48 billion, or $4.19 per share.
“Our entire value chain is responding to the strongest recovery we've ever seen across the broad spectrum of markets we serve,” the company said in its press release. “We will deliver record sales and profit this year.”
Caterpillar said it expects 2004 sales and revenues to be up about 30 percent and profit per share to be up 80 to 85 percent compared to 2003.
“While global economic growth in 2005 is expected to slow slightly from the robust levels we've experienced this year, the key sectors we serve should continue to show solid growth next year,” Caterpillar said. “Based on our preliminary outlook, we expect 2005 sales and revenues to be up about 10 percent from 2004 with record profit per share.”
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