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Summary Box: Caterpillar 1Q Earnings

The Associated Press

PROFITABLE PERIOD: Caterpillar's first-quarter profit soared 29 percent because strong global demand for mining equipment continued and U.S. construction firms upgraded their old gear.

DEVELOPING DILEMMA: Caterpillar says sales slowed in the key developing countries of China and Brazil after their governments took action to limit inflation. But Caterpillar did increase its earnings per share forecast to $9.50 in 2012 from the previous $9.25.

EXCEPTIONAL EXPECTATIONS: Caterpillar's stock fell through Wednesday because many investors seemed to expect more than the $1.59 billion net income, or $2.37 per share.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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