Caterpillar's income tumbles 44.5% in first qtr.

Apr 22, 2013 | 02:55 PM |

Tags  Caterpillar, earnings report, inventory, Doug Oberhelman

CHICAGO — Caterpillar Inc. posted first-quarter net income of $880 million, down 44.5 percent from nearly $1.59 billion in the same period last year on revenue that slid 17.3 percent to $13.21 billion.

Caterpillar had warned investors that the first quarter would be challenging, "and it certainly was," chairman and chief executive officer Doug Oberhelman said in a statement April 22. "Inventory changes were a major factor. In the first quarter of 2012, we added about $2....

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