Caterpillar posted fourth quarter earnings on January 27th to end it’s 2009 fiscal year. CAT posted earnings for the fourth quarter of $232 million, or at .36 cents a share, which is a 65% decrease from Q4 '08 which posted earnings of $661 million, or $1.08 per share. **Removing costs which are closely associated with thousands of job cuts, profit was .41 cents a share, which beats the street estimate of .28 cents a share.
Fourth quarter sales fell 39 percent down to $7.9 billion and analysts had estimated sales of $7.93 billion. Full-year profit fell down to $895 million, or $1.43 per share, from $3.56 billion, or $5.66 per share from 2008.
CAT has a positive outlook for 2010, however, “guidance looks light”. CAT estimates that sales will increase 10-25 percent in 2010 with a profit of $2.50 per share.
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