Caterpillar reports record third quarter

Caterpillar recently announced record third quarter sales and revenue of more than $10.5 billion dollars. The company also set a new record third quarter profit of $769 million with a 17 percent increase in sales and revenues. Profit per share increased 21 percent compared to the third quarter of 2005.

Caterpillar expects sales and revenues for 2006 to be approximately $41 billion – a 13 percent increase over 2005, says Jim Owens, Caterpillar chairman and CEO.