Caterpillar Posts Record Profits, Sales, Beating Wall Street Expectations.

Publication: Journal Star (Peoria, Illinois)

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COPYRIGHT 2004 Journal Star

Byline: Paul Gordon

Apr. 23--PEORIA, Ill. -- It was a record setting first quarter for Caterpillar Inc., the company reported Thursday.

And if Caterpillar meets its revised forecast for the remainder of 2004, the best may be yet to come.

Caterpillar rode record first-quarter sales of $6.47 billion -- 34 percent higher than the same period last year -- to a profit of $412 million, more than triple the profit of $129 million the first three months of 2003.

The per-share profit of $1.16 a share -- well above last year's 37 cents a share -- easily beat Wall Street predictions of 70 cents a share.

Investors reacted accordingly. Caterpillar stock rose more than 4 percent on Thursday, closing at $84.10 a share, up $3.39 on 5.4 million shares traded. That performance helped carry the Dow Jones industrial average to a gain of more than 123 points for the day.

"We have made...

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