The company added, however, that its financial results for the first half of the year were in line with expectations. Its diversification efforts allowed Caterpillar to achieve “solid financial results,” it said, despite slow North American truck engine demand and prolonged weakness in general construction.
The company continues to expect full-year 2001 sales and revenues to be flat compared with 2000 results. Full-year profit is projected to be down about 5% to 10% and its sales and profit projections remain unchanged from January, even though the forecast for worldwide economic growth is lower than anticipated, Caterpillar said.