Caterpillar predicts 2009 will be a "dismal year"

01/26/2009 | Bloomberg · RTT News · MarketWatch

Even though full-year revenue rose for Caterpillar, the company saw its fourth-quarter profits decline for the second consecutive quarter. Fourth-quarter net income was $661 million, compared with $975 million a year ago, coming in at 22 cents to 23 cents per share under analysts' expectations. The company expects a "dismal year" ahead and says it will slash 20,000 jobs.

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Bloomberg · RTT News · MarketWatch

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