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July 22, the world’s largest construction machinery and construction machinery maker Caterpillar company (Caterpillar Inc.) said second-quarter net profit rose 34 percent, exceeding expected analysis, the reasons was the increasing demand for hoe cultivation machines and mining equipment in Asia and the Middle East, and the company gained share prices in New York.
     Caterpillar issued a statement today that the company’s second quarter net profit from the same period last year 823 million U.S. dollars (1.24 U.S. dollars a share) rose to 1.11 billion U.S. dollars (1.74 U.S. dollars a share), sales rose 20 percent to 13.6 billion U.S. Yuan.
     According to 19 economists had expected the average, the company’s second quarter sales will be 12.3 billion U.S. dollars, earnings per share 1.54 U.S. dollars.
     Caterpillar said that the development of the market growth rate may be more than six times the North American market, the U.S. economy may be "difficult to avoid recession." Asia and the Middle East road and improve the local power grid project the demand for construction equipment, oil and coal prices rose for the mining machinery sales growth.
     Butler Wick & Co. Companies in Ohio Youngs town, a fund manager Bill • Baqie Le (Bill Batcheller) said: "We are waiting for Caterpillar to us that its North American business has improved, but obviously this has not happened yet. North America And a weak European growth prospects. "
     Caterpillar is expected to present the company in 2008 net profit for the six U.S. dollars per share, in last October forecast of 5.64-6.18 U.S. dollars per share of between revenue is expected to be 50 billion U.S. dollars, higher than the previously expected 472 100 million to 49.5 billion U.S. dollars. Analysts predicted that this year, Caterpillar will provide 48 billion U.S. dollars revenue, earnings per share 6.03 U.S. dollars.
     • Caterpillar CEO Jim Owens (Jim Owens) machinery prices will increase by 5 per cent maximum, the entry into force of this month, because of steel, copper and crude oil prices higher than the company had expected. The Institute for Supply Management (ISE) raw material costs rose to nearly 30 the highest level since June.
     Baltimore asset management companies Hardesty Capital Management president Jim Hardesty before the report was released said: "Caterpillar is in a storm in the worst situation."
    Until 7:48 the transaction in the New York Stock Exchange (NYSE) showed Caterpillar shares rose 1.77 dollars to 75 U.S. dollars, or 2.4 percent, yesterday to close at 73.23 U.S. dollars. So far this year, the company’s shares rose less than 1 percent.