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July 23, 2008

Caterpillar's quarterly profit jumps 34 percent

PITTSBURGH (AP) — Caterpillar's second-quarter profit jumped 34 percent as stronger international sales outpaced higher raw material and freight costs for the maker of backhoes and other heavy equipment.

The Peoria, Ill.-based company on Tuesday reported profit of $1.11 billion, or $1.74 per share, for the three months ended June 30, compared with $823 million, or $1.24 per share, a year earlier.


 
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