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Caterpillar third-quarter profit drops 53% on weaker sales

Caterpillar third-quarter profit drops 53% on weaker sales

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Analysts say renewed demand from developing countries such as China and Brazil, a weaker dollar that makes the company's products less
expensive in overseas markets and rising commodity prices could brighten Caterpillar's prospects next year.


Caterpillar said Tuesday its third-quarter profit tumbled 53 percent as customers bought fewer of its bulldozers and other yellow-and-black machines.

But the company said the latest quarter was its low point in the recession and raised its profit outlook for 2009. It also expects higher demand next year.

more here>> Caterpillar third-quarter profit drops 53% on weaker sales
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