Weak demand sinks Caterpillar net

Jul 21, 2009 | 12:54 PM | Lisa Gordon

Caterpillar Inc.'s second-quarter earnings fell 66.5 percent from a year earlier on a big drop in sales, but the major steel consumer reported seeing signs of stabilization in the market.

In what it described as "the worst economic environment since the Great Depression" the big construction- and mining-equipment maker posted net income of $371 million on sales of nearly $7.98 billion for the quarter ended June 30, down from net income of $1.1 billion on sales of $13.6 billion in the same quarter last year.....





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