CAT Reports Bleak 4Q Results

Caterpillar, Peoria, IL, announced that fourth-quarter profit was dragged down by the sluggish economy, though the company said it expects 2010 sales and revenues to grow as much as 25%. Earnings slid 65% to $232 million in the fourth-quarter, and revenue fell 39% to $7.9 billion.

Caterpillar’s results are considered an indicator of global economic health because of its broad reach and diverse product line.

The company said it is starting to see growth in China and other developing countries even as North America, Europe and Japan rebound more slowly.