Cat's sales and revenues rise
Caterpillar Inc. today reported first-quarter sales and revenues of $4.82 billion, which was 9% higher than the same period last year.
Cat said it's sales and revenues increased due primarily to currency-related price realization and some higher volume in truck engines and machines.
Caterpillar said it recorded a substantial improvement this quarter in its percentage of industry sales for heavy-duty truck engines. Caterpillar Inc.'s C9 Advanced Combustion Emission Reduction Technology (ACERT) engine for heavy-duty trucks received certification by EPA in January. The company received conditional certification from EPA to sell on-highway truck engines after October 1, 2002. However, those "bridge" engines fell short of the new federal emissions standards and were subject to fines for each one sold.